How much money do you need to comfortably retire?
We’re all getting used to spending more and receiving less as prices for food, utilities and housing keep jacking up. While this is bearable for those with rising incomes, it isn’t bearable for retirees who have a finite amount of money to live on. If you sit down with a financial planner to discuss your…
How to dump $450,000 into your super in one year
Let’s say you sell an investment property and you have a significant sum of money to invest somewhere – can you dump the lot into super? There is a whole host of rules surrounding how much money you can dump into your super fund and many come under the bring-forward rule, which you should be…
Aussies ‘don’t understand their super’
It’s the average Australian’s second biggest investment, behind the family home, yet new research shows many Australians don’t understand their superannuation. Research by insurer Suncorp has found only four out of 10 people claimed to understand their superannuation statement. Vicki Doyle, executive general manager for superannuation and investments for Suncorp, said nearly half of the…
Super fund decimated? Strategies to get it back on track
Retirees, battered and bruised over shrinking nest eggs, should stay the superannuation course during volatile financial markets, but are advised to closely examine fund performance and investment strategy. It’s not the time for disillusioned members to make rash and emotional decisions in light of weaker equity markets during the past 18 months, although shares have…
Your retirement: how much income do you need?
Australians might now be more aware of the real need to crank up their superannuation savings, but working out exactly how much is needed to fund a retirement that is free of monetary worries is still difficult. There are so many variables at play – with the most important being that it is very hard…
When starting a pension do I have to convert all of my super to a pension?
If I want to start a pension, am I obliged to do so with the percentage minimum of the whole of my super (far too much for my daily living requirements) or may I instead leave some in the accumulation phase and simply start a pension from, say, half the balance? It has always been…
Why you should split super with your spouse
Until recently, the ability to split superannuation pots was a popular strategy for couples looking to reduce the amount of tax payable on their end benefits. But from 1 July 2007, the government’s Better Super changes mean that for the majority of people aged 60 or over, super paid as a lump sum or income…
How to beat the super doom and gloom
The rapid decline in global equity markets has stripped wealth from superannuation nest eggs in an investment environment that looks challenging for at least the next 12 months. The popular default options of the nation’s super funds are likely to return an average loss of 4 per cent for the 2007/08 financial year, according to…
