Superannuation

Mistake Government mulls major change to your retirement money

‘Mistake’: Government mulls major change to your retirement money

Wouldn’t it be fabulous if all Australians reached retirement with a saving pool sufficiently large that it gave them complete financial security? By that, it means retirees having the financial independence to live off those accumulated savings and never having to draw on the age pension. For individuals, it would be liberating. The benefits to…
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Super re contribution strategy explained

Super re-contribution strategy explained

In our animation, ‘Super lump sum withdrawals’, we discussed that super benefits may comprise of two components: a tax-free and taxable* (taxed element) component. *A taxable (untaxed element) component can exist in certain circumstances, such as in an untaxed scheme (e.g. government super fund). The tax-free component generally consists of non-concessional contributions. Whereas, the taxable (taxed element)…
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The Budget is making changes to your super Heres what they are

The Budget is making changes to your super: Here’s what they are

Most of the Federal Budget measures were about getting people into jobs and helping Aussies keep more of their money. And while you might have heard all about the business and income tax cuts by now, you may have missed a little detail: a handful of changes to your superannuation. It was wrapped up in a package called ‘Your Future, Your…
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Recession 2020 What does the coronavirus recession mean for my super

Recession 2020: What does the coronavirus recession mean for my super?

Share markets around the global are volatile thanks to the coronavirus pandemic and the cloud of uncertainty it brings with it is scaring Aussies, particularly those approaching or very recently retired. In times of crisis such as this, it’s typical for central banks, such as the Reserve Bank of Australia, to cut interest rates in…
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Transition to retirement income streams TRIS

Transition to retirement income streams (TRIS)

Retirement can mean different things to different people, however, when it comes to retirement and retirement intentions, there can be common threads. For example, according to 2018-2019 ATO data*: 1. The average age of retirement was 55.4 years. 2. The top three reasons retirees left their last job included: they reached retirement age or became eligible for super;…
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Super engaged well informed Annual statements

Super engaged & well-informed: Annual statements

For many of us, our super will play a vital part in our financial lifecycle journey—helping us with our move (over time) from financial dependence to independence, in terms of wealth accumulation and income-generation. Although, the extent our super is optimally leveraged, and the beneficial result of doing so, can often be affected by our level of…
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Super review checklist Your annual super statement

Super review checklist: Your annual super statement

Whilst the recent implementation of the ‘Protecting Your Super Package’ has received a somewhat mixed reception, it has provided some people with a much-needed prompt to review their super details. Another opportunity to do so occurs with the release of annual super statements. As a super fund member, you will be receiving your annual statement soon,…
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Revealed Aussies spend early access super on gambling beauty products

Revealed: Aussies spend early access super on gambling, beauty products

Women who are accessing their super early are more likely to spend it on essential purchases for the family, whereas men are more likely to spend it on nice-to-haves, with gambling skyrocketing, new data has revealed. According to data by illion and AlphaBeta, women are spending more than men on food, clothing, and household bills,…
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What to do with your superannuation if youre 25 years or younger

What to do with your superannuation if you’re 25 years or younger

If you’re 25 you’ve probably got 40 years ahead of you building your career. During that time you’re going to face life decisions – cars, travel, life partners, careers, houses, and family. There’s one big ticket item that’s likely to be left to last, and that’s thinking about your retirement. Most Australians save for their…
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