Most people think of superannuation as a tax-favoured way of saving for your retirement. For employees, it is compulsory. For self-employed people, it is optional. For everybody, it is a great idea.
But superannuation is about more than retirement planning. It is actually a cornerstone of most people’s financial plan. This is because ‘super’ touches every other aspect of your financial planning. The way you manage your super impacts on how you manage your insurances, your other investments, your tax planning, your retirement planning, your marriage, your divorce, how and when you might help your adult kids out financially, your estate planning and even how you repay your own mortgage.
It is super by name and even more super by nature.
There are three types of super fund: retail funds, industry funds and self-managed superannuation funds. Different clients are suited to one or more of these types, and sometimes it makes sense to use more than one type in combination. We help you select the appropriate type of fund. We then help you make best use of whichever option you take. This is important because super can and should be incorporated into your thinking about everything to do with your finances.
If you decide to manage your own super (a ‘self-managed super fund,’ or SMSF), we assist with all facets of establishing and maintaining this fund. This includes liaising with external legal professionals to facilitate the production of all documents needed to start, and our advice on the assets you hold within the fund.
Did you know….if you are “downsizing” in retirement, you may be eligible to boost your super via a downsizer contribution. I say “downsizing” because this term is misleading. You don’t actually have to move into a smaller home. In fact, you could upsize and still make a “downsizer” contribution to super! So how does
With it’s very short days, July is always cold and wet and this year has been no different. But on a more positive note, July brings opportunities due to new legislative changes coming into force in the new financial year. So here are 6 potential opportunities for FY 2018/19
The Productivity Commission has just released its draft report into Australia’s “outdated” and “flawed” superannuation system. It’s recommending yet another round of reforms to benefit the average member. But there is no need to wait, the common pitfalls can be avoided now. There is choice now and you can make small changes now to improve