Grow your super in the new year Making an extra voluntary contribution now might improve your lifestyle once you retire. A new year’s as good a time as any to make plans. How about a gift to your future self by maximising your retirement contributions? It’s not as far-fetched or self-absorbed as it might seem. If you think of this as investing in your future self or your loved ones, it could make good sense. …
Can I go back to work if I’ve accessed my Super? When you access your super at retirement your super fund may ask you to sign a declaration stating that you intend to never be employed again. But there may be compelling reasons why someone would subsequently return to work. According to the Australian Bureau of Statistics (ABS) the most common reasons retirees return to full or part-time employment are financial necessity and boredom.i Regardless of …
Making the most of record low interest rates The Reserve Bank of Australia (RBA) took the cash rate to a record low of 1% in July, bringing mortgage rates to their lowest level in more than half a century. However, the low cash rate also means your money in the bank could be earning less interest. Why did the RBA cut rates? Rate cuts are a way for the RBA to help stimulate the economy. …
The ins and outs of the Protecting Your Super package This year, the federal government introduced laws called the Protecting Your Super package. It’s a big deal because it addresses important changes to superannuation that are here to stay. In fact, there’s even been an industry-wide campaign about how it’s time to check your super. The package aims to protect Australians from super balances becoming eroded by fees and/or premiums in accounts that aren’t being …
When can I access my Super? Superannuation is generally intended to help fund your retirement, but there are instances where you may also be able to withdraw your super savings early, depending on your situation. Here is a high-level summary as to when super may be accessible to you. When you retire (and have reached your preservation age) Typically, you can access your super when you’ve reached your preservation age and you retire. Find your …
9 money mistakes to avoid in retirement How to keep your finances on track once you leave the workforce When you’ve worked hard all your life to build up your nest egg, the last thing you want to do is fritter it away too quickly. In this article, we look at the common money mistakes people in retirement make, and how you can do your best to avoid them. 1. Not taking control of your …
Take control of your finances now for the new financial year. If you set yourself money goals at the start of 2019, the upcoming new financial year is a great time to check if you’re on track. And if you didn’t set any goals – or if you have strayed off track – this is the perfect time to get organised, write a checklist and stick with it! Don’t wait until 1 July to start. …
How to play catch up with your super Now you can put more into super at the concessional rate of tax, starting from the 2019-20 financial year Putting more money into the tax-friendly framework of superannuation to help you enjoy a fulfilling retirement… it’s one of those things that seems like a no brainer, especially with the benefit of hindsight. In a recent report Australians in retirement said that making extra super contributions was the …
Super – know your rights Unpaid super isn’t something to be taken lightly. No matter who you work for, it’s their responsibility to make payments to you under the super guarantee. Find out more about how much super you should be getting, how often and what to do if there’s a problem. Rescuing your super – unclaimed or unpaid There’s a staggering amount of superannuation that may never find its way to the people who …
Dealing with redundancy How you spend your time and money after redundancy can make a difference to your future career and wellbeing. Find out how to plan for your best outcome. When your time at work comes to an end because of redundancy, it can stir up all sorts of feelings, ideas and possibilities. For some it’s a great opportunity to rethink how you want to be spending your time. Fear of the unknown can …
