8 steps to super success
Merely thinking about your super means you’re straddling the first major hurdle that most Australians face when planning (or not) for their retirement and looking into your future. As an employee, you have your employer helping you with your retirement [...]
2012 checklist: 10 super tips for a financially healthy retirement
Use this list as a kick-start for your 2012 super resolutions. You may not keep all of your resolutions, but if you do just a handful of the tasks listed in the checklist below, you can strengthen the chances of a financially secure retirement.
Does Trish Power offer personal financial planning advice?
Q: I have met many financial planners including 3 independent ones, but they don’t seem to know much and all said different things. They don’t seem to show interest and care for my retirement.
I’m 59 and I have $180,000 in super. Will my super be taxed?
Q: I’ve just turned 59, and I’m thinking of retiring before I turn 60. I would like to know whether I would have to pay tax on my superannuation. I know that after I turn 60, it’s tax-free, so my inquiry is regarding the period till I turn 60.
Divorce: How is Australian superannuation divided in a NZ divorce?
Q: Are you able to shed any light on how Australian super funds are treated/divided by New Zealand courts in the case of divorce, where the two parties are also New Zealand citizens? We’re not familiar with NZ family law [...]
Can I put my super into a bank account?
I am not in a self managed super fund. Can I put my superannuation balance into a bank account to get around 6% until I retire in 2.5 years?
Super for beginners, part 6: Can I make concessional (before-tax) contributions while I’m unemployed?
Q: I have been made redundant and would like to know if any contribution in super is tax deductible while I’m unemployed even if I would find work in the next couple of weeks?
Free retirement planning assistance now available
You’re starting to think about your retirement but you’re not sure if you want a full-blown financial plan just yet. Perhaps you may not be able to afford a full financial plan, or you may be uncertain how to go about finding an adviser or unsure as to what qualities to look for in an adviser.
Do I have to be working to make super contributions?
The answer is no if you’re under the age of 65. Anyone under the age of 65 can make super contributions whether they are working, rearing children, looking after a sick partner, recovering from illness or on an extended holiday.
SMSF pension: Can I still make super contributions?
Q: I am 62 years of age and retired. I have recently commenced an account-based pension from my SMSF. Can I still make non-concessional contributions to that fund?
Over-65s work test: How does it operate again?
Q: I am a little confused by the work test requirements. I have two questions…
1. Does 40 hrs in any 30-day period include weekends or is it 6 x 5 day weeks? 2. Is there a maximum that can be worked in any financial year
