How to keep SMILE-ing in retirement If you’re crunching the numbers to work out how much you need in retirement, it’s time to sit down and take a deep breath… The latest Retirement Standard from the Association of Superannuation Funds of Australia estimates that people retiring today, who are in good health and own their own home outright, will need $430,000 if single and $510,000 for a couple to maintain a comfortable standard of living …
AMP NATSEM Income & Wealth Report We can work it out: Australia’s changing workforce In recent years we’ve experienced a global recession that’s changed the global labour force with industries closing down, job lay-offs and increasing unemployment. On top of that, in Australia we’ve experienced significant structural and technological change that’s seen us move from an agricultural based economy to being services based. The recently released 36th AMP.NATSEM report takes a look at the current …
How to make the transition to retirement smooth for you and your partner Couples don’t always agree on everything, including retirement. If the time comes for you to retire and your partner is still working—or vice versa—it’s a matter of anticipating the natural changes ahead and then balancing and planning so both your needs can be met. Understanding differences The age you retire may depend on the work you do, your employment arrangements, your health …
Women need a plan for ‘early’ retirement We know women generally live longer than men, but new research shows the majority of Australian women are unlikely to work past the age of 65, making it more important than ever for them to take control of their finances early and plan appropriately for life after work. The latest AMP.NATSEM Report, Going the distance: Working longer, living healthier, has revealed the gender gap in the Australian workforce …
4 ways to make more retirement hay while the sun shines The latest AMP.NATSEM report, Going the distance: Working longer, living healthier, has found that although the pension age may rise to 70 if the Government’s proposed legislation passes, many people in their 60s simply aren’t going to be healthy enough to work that long. The report found that in 2035 one in four men and one in five women aged 60-69 are expected to …
Should I take my super as a lump sum or not? When it comes to accessing your super, it’s important you make the right choice. You’ve spent your working life accumulating super. So when the time comes, are you better off taking a lump sum, regular income or both? Let’s weigh up the alternatives so you can start to consider what may be best for you. Taking a lump sum If your super has been …
How to make working later in life work for you Tips for taking a freestyle approach to work and retirement The relationship between work and retirement is changing. Nowadays we expect a lot more from our later years than previous generations—we’re no longer satisfied with treading water and we want to go freestyle. But with the pension qualification age increasing,[1] people living longer[2] and concerns about whether we have enough money in our super, we …
Managing your debt Debt and Cashflow Management Debt is part of modern life. It can be used to help you reach your goals, but only when you are in control of it, not when it is in control of you. It’s easy to build up little bits of debt here and there that don’t appear to amount to much, but can quickly eat into your cash flow. Common questions to consider Some questions you may …
Having the chance to take a step back for a moment and look at things from a fresh perspective can be a great advantage, especially when it comes to planning your financial future. When it comes to managing your finances; knowing when, where and what to do can be quite daunting and complex. Effectively managing your finances requires a sound knowledge of various strategies available and the latest regulations and this is where a financial …
Already retired Have you reached your retirement age yet you feel you’re not yet ready to give up work altogether? If you’re eligible for the Age Pension, the government offers incentives for working people to defer claiming it. On the other hand, if you’ve independently funded your retirement, you may benefit from keeping track of, or restructuring, your finances so you can maximise any government entitlement. Some questions you may wish to consider …
