More than one super account?

Did you know there is over 10 (Source) million Australians with a superannuation account, approximately 36% of which hold more super accounts, which make up  $20.8billion in ‘lost super’. Is some of that yours? Find it Moved house? Changed jobs? Don’t know where your teenage self stashed your super? It’s easy to track it down. Consider Combining it Save on fees, reduce your paperwork, keep track of your hard earned money, grow your retirement fund. But seek professional financial advice first to make sure combining is beneficial for you. Ask your financial adviser Many websites offer to help find and combine your super. It is quick, easy and free. You can ask your financial adviser for help, check with your known superannuation provider or the Australian Tax Office. Grow it A professional financial adviser can help you find an appropriate superannuation fund that will grow your hard-earned income ready for your retirement – and the sooner you get on top [...]

By |2020-11-16T11:43:01+11:00November 16th, 2020|Retirement, Tips and Other News|0 Comments

Take Control Of Your Retirement

Are you affected by the increase in the Age Pension’s qualifying age? Take steps now to avoid getting caught short on retirement income. The minimum age to qualify for the Age Pension has started going up. For those born on or after 1 July 1952, the qualifying age increases by six months every two years until it reaches 67 in July 2023. It rises to 66 in July this year. So if you’re turning 45 this year and plan to retire when you reach 60, you will need to wait until you’re 67 before you can apply for the Age Pension. You’ll have to rely on your own savings and super in the interim, making it crucial to ensure you have enough money put away for later years. But the good news is that there’s still time to grow your retirement savings. Boost your super Contributing more to your super can be a reliable route to bolstering your retirement [...]

By |2020-09-29T13:17:03+10:00September 29th, 2020|Retirement|0 Comments

New retirement saving opportunities for the over 55’s

In the ever-changing super landscape, new tax breaks often arise as governments attempt to create incentives to encourage people to self fund for retirement and then to utilise their super to create income streams that will last well into retirement. One such opportunity is the ‘transition to retirement’ rule aimed at the over 55’s. The transition concept is a significant shift from the old ‘work full time until you retire’ model. The transitional paradigm recognises that many may prefer to ease into retirement gradually by cutting back working hours and drawing some income from their super before they fully retire. Extra savings there for the taking Bruce Jennings from Jennings Financial Services is spending an increasing amount of time helping pre-retirees to take advantage of this transitional environment. “My clients are pleasantly surprised when they discover the additional retirement savings that can be achieved in the 10 year period leading up to retirement. In fact it is quite startling [...]

By |2019-03-12T11:25:38+11:00July 6th, 2017|Retirement|0 Comments
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