Savings & Investments

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…

Self-managed super funds and tax exemptions on pension assets

I am over 70, but my wife is only 62 and we are both retired. We have a SMSF that commenced in 2005 from which we both draw a pension. Each year I have donated funds to my wife’s super in order to claim the Co-contribution. Apparently this means that the SMSF is in both…

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…

Investing for your child’s future

Future generations are going to need all the financial assistance they can get as government financial support for education, home ownership and retirement looks set to become just a bitter sweet memory. We sought advice from financial planners concerning the Dos and Don’ts of when, how and why to invest for children. Why consider children’s…

Think you don’t need financial advice? Think again.

If you’re a DIY investor who researches thoroughly and has translated that into a well-managed and high performing portfolio, you may think you don’t need a financial advisor. If so it may pay you to think again… and read on. You might find that you don’t know as much as you thought you did. Dominic…

The perils of sudden wealth

Two lottery wins in two consecutive years and the combined total of $5.4 million gone in just over two decades. Evelyn Adams, who achieved the Great American Dream twice when she won the New Jersey lottery in 1985 and 1986, is now destitute and living in a trailer. The tragedy is that hers is not…

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…