Retirement is a big term that covers retirement planning, taking a pension, working in retirement, how much money is enough and more. The term ‘retirement’ also has a special meaning for when you can access your super benefits.
The following articles refer to Retirement and superannuation.
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 [...]
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 [...]
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 [...]
The most popular question about superannuation and retirement planning is, without doubt: How much money is enough?
A glib response to this question may be: Enough money for what? From the many times, though, that I’ve been asked this question, I know that when most Australians ask it, they really want to discover the answer to: [...]
Q: I am 57 years old, born 1951. I thought I could access my super funds from age 55 but I have been told I can’t access my funds until age 60. Is this correct? If I withdraw my super benefits, is there any tax payable?
Trish’s response: The general rule is that you must have [...]
In case you needed further proof of the impact of the global financial crisis (GFC), a recent survey titled Self Funded Retirees has found that retirees have been hit hard by the extended market downturn, while many baby boomers planning to retire have reconsidered and opted to remain in the workforce for a longer period.
Research [...]
When you retire early, you’re going to have to make a few decisions. The tax implications of your retiring before the age of 60 can depend on whether you take your super as a lump sum and/or income stream.
Are you taking your super as a lump sum, an income stream or [...]
When you reach 60 and start a retirement income stream you get two dollops of tax-free super.
If you’re aged 60 years or over, any lump sum or income stream benefits you receive from a taxed super fund (90% of all super benefits) are tax-free. Further, fund earnings on assets in pension [...]
Retirement planning can be compared to planning for a dream holiday – your trip may have an exciting destination but the steps you need to take to ensure you get to your desired location safely, and within your budget, can sometimes be tricky.
You may be hoping to leave your job on your designated retirement day [...]
If you’re aged 60 and retired, you can receive your superannuation benefits tax-free — as a lump sum or as an income stream (regular payments over a period of time). It sounds incredible but it is certainly true. You can enjoy a tax-free income in retirement assuming you have sufficient super savings to deliver you [...]
A superannuation benefit can be made up of two components — tax-free and taxable, which is more straightforward than the rules that applied before July 2007. Before July 2007, taking a super benefit involved up to eight different benefit components.
The rules that have applied since July 2007, are a lot simpler for Australians considering retiring [...]
If you retire before the age of 60, your super benefits are likely to be subject to tax — but not always. With the right structure, and usually with expert advice, many Australians retiring early can end up paying no tax.
If you’re willing to wait until you turn 60 before you retire, you can automatically [...]
Hi - I'm Trish Power and I am the author of Superannuation For Dummies and many other books on super and investing.And guess what! This site, SuperGuide, is the only INDEPENDENT website for consumers on superannuation in Australia. Read more