Trish Power
Trish Power is an author and journalist who lived a former life as a superannuation tech-head. She is the author of super bible, Superannuation For Dummies, 2nd Edition (Wiley).Trish describes much of her financial writing as educative journalism. She is passionately committed to raising the level of financial literacy in Australia and empowering individuals to improve their financial circumstances.Trish has worked on member communication campaigns for some of the largest superannuation funds in Australia, and spent several years educating and advising the community and industry on super while employed with the industry regulator. Trish has both a law degree and an economics/commerce degree from the University of Melbourne, and holds a professional writing and editing qualification from RMIT University.Trish is interviewed regularly on radio and presents at educational seminars, typically speaking about investing, superannuation, property, and women and investing. She is the author of the following books:*How to make $300,000 without trying! (30 ways to save your super) (Wilkinson Publishing)
*DIY Super For Dummies (available October 2009) (Wiley)
*Superannuation: Planning Your Retirement For Dummies (Wiley)
*DEAR TRISH… DIY SUPER: 101 Q and As (Wilkinson Publishing)
*Superannuation For Dummies (Wiley)
*Superannuation: Choosing A Fund For Dummies (Wiley)
*Dear Trish: Super – Tax-free Superannuation Dollars For You (Wilkinson Publishing)
*You Don’t Have To Be Rich To Become Wealthy: The Baby Boomers Investment Bible (co-author) (Wrightbooks)Trish lives in Melbourne with her partner.
By Trish Power on February 27, 2010
And SuperGuide has the list!
It’s taken some time but a handful of motivated licensed financial advisers have finally raised the bar and demanded that… wait for it… licensed advisers provide independent advice in the best interests of clients.
I can hardly believe it myself, but according to Matthew Ross, the co-founder [...]
Categories: THE SOAPBOX | Related superannuation topics: Accountants, Australian Financial Services Licence, Commissions, Financial advice, Independent Financial Advisers Association of Australia (IFAAA)
By Trish Power on February 27, 2010
Q: How do you change your self-managed super fund (SMSF) from accumulation phase to pension phase (husband aged 60 not working) and transition to pension phase (myself aged 57 and still working part time)? If an accountant has to do it, what costs could be involved? Your site has been [...]
Categories: Accessing super, DIY super | Related superannuation topics: Account-based pensions, Accumulation phase, Actuarial certificates, Pension phase, Pensions, Q&A, SMSF administration, SMSFs, Transition-to-retirement pensions (TRIPs), Trust deed
By Trish Power on February 27, 2010
Q: I recently read your book on DIY Super for Dummies and picked up a number of useful hints. Thanks for writing it. My wife and I have only recently established a SMSF and are on a steep learning curve. However there is one question which, to date, I have [...]
Categories: DIY super | Related superannuation topics: Death benefit, Dependants, Income stream, Non-dependants, Pensions, Q&A, SMSF, Tax-free component, Taxable component
By Trish Power on February 27, 2010
Q: I have a rental property unit I owe approximately $190,000 to the bank and I would like to know if I can invest my $60,000 super into the unit to reduce my payments to the bank?
Superannuation is subject to special access rules called preservation. What this means is that you [...]
Categories: Accessing super, Super basics | Related superannuation topics: Accessing super early, Australian Prudential Regulation Authority (APRA), Compassionate grounds, Mortgage assistance, Permanent disability, Preservation, Q&A, Severe financial hardship, Super for Beginners
By Trish Power on February 27, 2010
Q: I am 53 years old. I do not contribute to super and I have never been a saver. I have just paid off my unit. My question is: I earn only $37,000 a year, so I have never had a highly paid job. Is it too late for me [...]
Categories: Boost your super, Retirement planning, Super basics | Related superannuation topics: Age Pension, Age Pension age, Calculators, Co-contributions, FIDO, Non-concessional contributions, Q&A, Retirement, SATO, Tax-free super, Westpac-ASFA retirement standard
By Trish Power on February 26, 2010
Q: Hi I am 58 years old. Apparently you can get a lump sum of super before 60 if you have permanently retired. Can you still later look for work again? How do you prove you have permanently retired?
The question that you ask is in the top 10 questions that [...]
Categories: Accessing super, Retirement planning, Super basics | Related superannuation topics: Accessing super early, Age 65, Part-time basis, Preservation age, Preserved benefits, Q&A, Retirement, Retirement declaration, Super for Beginners
By Trish Power on February 24, 2010
Q: Under the 2-year bring-forward of non-concessional contributions, if a person makes a contribution of $150,001 when age 64, he can continue to contribute the balance of the $450,000 anytime during the next 2 years without having to satisfying the work test, is that right?
The short answer is no, even [...]
Categories: Boost your super, Retirement planning | Related superannuation topics: Bring-forward rules, Contributions caps, Excess contributions tax, Non-concessional contributions, Over 65, Q&A, Work test
By Trish Power on February 24, 2010
This article is a must-read if you make contributions to a super fund, in addition to your employer’s compulsory Superannuation Guarantee contributions.
Hundreds of thousands of Australians who are making a serious effort to save for retirement are expected to receive a financial shock after the financial year ends in [...]
Categories: Boost your super, Super & tax, Super basics | Related superannuation topics: ATO, Concessional contributions, Contributions caps, Excess contributions tax, Excess contributions tax assessments, Non-concessional contributions, Salary sacrifice, Special circumstances, Superannuation guarantee (SG)
By Trish Power on February 23, 2010
Q: I am an Australian citizen living in the UK and I have an Australian super fund accumulated from 1986-1992 and now growing with investment earnings over time. Additionally, I continue to hold bank accounts in Australia. I am 52 and I intend retiring at age 60. When I [...]
Categories: Retirement planning, Super & tax | Related superannuation topics: Income stream, Lump sums, Pensions, Preserved benefits, Public sector funds, Q&A, Retirement, Super for Beginners, Tax-free super, Taxable component, Turning 60, Untaxed benefits
By Trish Power on February 23, 2010
Q: I am 41 years old and my partner is 56 years old. We have a very big mortgage as we are both the casualties of wealth destroying divorces and single parenthood! Thus we intend to pay off our mortgage before putting more into our superannuation which will therefore be after [...]
Categories: Boost your super, Retirement planning, Super basics | Related superannuation topics: Concessional contributions, Contributions caps, Non-concessional contributions, Q&A, Spouse contributions, Super contributions, Super for Beginners, Super splitting, Tax offset
By Trish Power on February 23, 2010
Q: I have my own super fund and when it came to the end of the year I was supposed to withdraw $6,544. I only withdrew $6000 and can catch up this year. Is this a reportable breach to the Tax Office?
For the benefit of other SuperGuide readers, I’ll first explain [...]
Categories: DIY super | Related superannuation topics: Approved auditor, ATO, Contravention, Minimum payment factors, Pensions, Q&A, SMSF, Tax-free
By Trish Power on February 23, 2010
Q: I will be 60 in January 2011. Is the compulsory 4% drawdown from my super pension treated on a pro rata basis for my tax return 2010/2011 year, or can I draw it down after January 2011 rendering my super income after 60, tax-free? Thank you also for [...]
Categories: Retirement planning, Super & tax | Related superannuation topics: Account-based pensions, Minimum payment factors, Pensions, Q&A, Tax-free component, Tax-free super, Taxable component, Turning 60, Untaxed benefits
Hi - I'm Trish Power and I am the author of Superannuation For Dummies and many other books on super and investing.
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