How to boost your retirement savings as super and tax laws change
Stay up-to-date with the latest information, views, and expert opinions to help you take care of your financial future.
Tag: Savings
Econosights – how much more excess savings do consumers have
This edition of Econosights looks at how much longer households can draw down on savings and what the outlook is for consumer spending.
Term deposit vs savings account: what’s the difference?
Term deposit vs savings account: what’s the difference? Term deposits offer certainty and savings accounts offer flexibility. Here are some other common features and benefits of each. Putting your money into a savings account, or a term deposit, are two common methods of saving. Working out whether either of these options are right for you depends on your personal and financial circumstances, as well as your savings goals. To look at this simply, a separate …
9 ways to boost your super savings
9 ways to boost your super savings Check out what you could do while you’re still earning an income and have time on your side. Many of us turn a bit of a blind eye to super. We hope it’ll be enough when the time comes and believe the government’s age pension is available if we fall short. Not everyone is eligible for the age pension, and we may live a less than modest lifestyle …
Four ways to save more for a rainy day | Money & Life
Four ways to save more for a rainy day Having access to savings can be vital when an emergency strikes. But making the most of your savings by earning interest can also help you get ahead financially. Discover ways to help your savings grow without leaving yourself stuck for extra cash. Last year our FPA Money & Life Tracker: Covid edition survey asked over 2,000 Australians how the pandemic has made a difference to their finances and …
How the gender pay gap is causing problems for Aussie women: Now and in the future | Money & Life
How the gender pay gap is causing problems for Aussie women: Now and in the future Women are entering retirement with significantly less superannuation and personal savings than men – leading to a growing class of women living out their golden years in poverty. We explore how the gender pay gap is adding to this growing epidemic. While most people have heard of the ‘gender pay gap’ (GPG), many of us are less familiar with …
Transfer balance cap increase
Transfer balance cap set to increase to $1.7 million The amount of super savings that can be transferred into a retirement pension (whether you have one or more than one) will increase from $1.6 million to $1.7 million on 1 July this year, but not for everyone. Currently you can transfer a maximum of $1.6 million from your super savings into a retirement pension (or pensions) to generate an income after you’ve finished working. However, from 1 …
Create an 8-week Christmas savings plan
Create an 8-week Christmas savings plan The sooner you start saving for Christmas, the better. But you can do it in just eight weeks – even if you have a tight budget in the lead-up to this year’s festive season. Here’s how to develop a plan to save money and reach your holiday goals. Fairy lights twinkling, seafood on the barbie, gifts being wrapped and Michael Bublé crooning in the background – Christmas can …
AMP tips to help narrow the gender super gap
Strategies and support available to help women boost their savings for retirement from AMP’s Lara Bourguignon. Original Author: Produced by AMP and published on 29/05/2020