Superannuation is one of the largest and most important investments you will ever make. Make sure you are getting the most out of your super by: ✔️ Understanding how your super is currently invested, your insurance options and other features your fund offers and compare it to others. You can do this by reviewing your annual statements, on your fund’s website, app or by calling them and asking questions. 📈 Regularly checking how your investments …
Superannuation is one of the largest and most important investments you will ever make. Make sure you are getting the most out of your super by: ✔️ Understanding how your super is currently invested, your insurance options and other features your fund offers and compare it to others. You can do this by reviewing your annual statements, on your fund’s website, app or by calling them and asking questions. 📈 Regularly checking how your investments …
Episode #97: Five constraints on medium term investment returns In the 1980s and 90s superannuation investment returns were very strong. But since 1999, nominal superannuation returns have been more constrained averaging 6.2% pa as we entered a lower return world. Five key structural trends suggest higher medium term inflation pressures and constrained economic growth than pre-pandemic. AMP’s Chief Economist, Dr. Shane Oliver looks at why this is happening as well as the implications investment returns. …
Guide to your preservation age If you’re thinking about retiring, it can be helpful to understand what your preservation age is and how it affects your ability to access your super. What is preservation age? Your preservation age is generally the earliest age you can access your super, and it’s calculated based on your date of birth. It’s called preservation age because your super is a preserved benefit – locked away until you reach a …
Tax-deductible superannuation contributions explained Did you know you can claim a tax deduction on certain super contributions when you do your tax return? Whether you’re employed, self-employed, unemployed or retired, you might be eligible to claim a tax deduction on your after-tax super contributions. After-tax super contributions are voluntary payments made into your super and don’t include compulsory superannuation guarantee or salary sacrifice contributions. How do I make a tax-deductible super contribution? There are various ways to make …
What are super contributions? A super contribution is money that’s deposited into your super account, either as an ongoing payment or as a one-off. Usually made by you or your employer. For more information on super contributions, please go to https://www.amp.com.au/superannuation/super-contributions/guide Get more insights about growing your super and investing your money: https://www.amp.com.au/insights/grow-my-wealth Subscribe to our AMP YouTube channel for the latest information and smart tips on money, investing and living your best retirement. Subscribe …
Superannuation and divorce Whatever the age, separation and divorce can be a stressful and painful experience. According to the Australian Institute of Family Studies[1], the divorce rate has been trending down in the 2000s. However, the proportion of couples divorcing who had been married for 20 years and longer has been increasing, with one age group 55-59 doubling over the last two decades. This rising trend is referred to as “grey divorce” or “silver splitters”, …
Four key risks to consider for a comfortable retirement Sometimes saving for retirement is the easy part, it’s how to manage risks when one approaches or enters retirement that can be tricky. There are four key risks in retirement – sequencing of returns, lower-than-expected returns, longevity risk and knowing how much a retiree can spend without falling short. There are other critical issues such as living arrangements and the rising cost of healthcare, but the …
Planning a career break? Here are tips to help keep your super on track Whether you’re doing it because you want to travel, study or start a family, taking a career break can really affect your financial future. Thankfully, there are ways to help keep your superannuation in shape. Whatever your stage of life, there are several reasons for planning a career break. In some instances, leaving the workforce won’t impact your super. But in …
Getting your super back on track If you experienced financial hardship in 2020, you may have decided to withdraw from your superannuation balance to tide you over. Find out what you can be doing to top up your super and keep your retirement savings on track. In 2020, the Federal Government announced a number of different types of support for Australians in financial difficulty due to the COVID-19 pandemic. For people who lost their jobs …
