Retirement income rules of thumb: Do they measure up?
Working out how much income you will need in retirement is no easy task, but some simple rules of thumb may provide an estimate to start the planning process.
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Barbara is a financial journalist and author with over 30 years’ experience in Australia and the UK. She is a contributor to The Sydney Morning Herald and The Age Money section, and has worked for the Australian Financial Review and The Australian.
Barbara is the author of Alan Kohler’s Eureka Report Guide to Personal Investing, Sorting Out Your Finances for Dummies and Personal Finance for Dummies and co-author of Investing for Dummies with James Kirby.
Working out how much income you will need in retirement is no easy task, but some simple rules of thumb may provide an estimate to start the planning process.
Choosing an excellent super fund can make a big difference to your retirement outcomes. The first step is an understanding of the five broad categories of funds on offer.
After a year dominated by rising inflation and interest rates, war in Ukraine and negative returns, investors will be hoping for a soft landing in the year ahead.
APRA’s blowtorch, in the form of its MySuper Heatmap, appears to be working, with fewer funds underperforming or exiting the industry in 2022.
It’s a debate that never entirely goes away, but there’s a growing body of research that indicates you may not need as much to start your own super fund as previously thought.
The new federal government recently announced it plans to legislate an objective for super. Until then, the sole purpose test is the light all super fund trustees must steer by.
Your pot of retirement savings in super may actually be divided into several smaller pots, some of which can be withdrawn sooner than others.
Now that super funds have signed up to the Retirement Income Covenant, retirees who worry their savings won’t last the distance are being offered a growing selection of pension offering income for life .
If you are wondering why you have so little super to show for all your hard work, it may be time to search for super accounts you forgot you had.
The Age Pension is highly prized, but your eligibility and the amount you receive will depend on your residency status among other things.
Investment platforms have been around for a while, but they are being forced to innovate to attract and retain new investors.
Just because you’ve retired and collected your super, doesn’t mean you can’t go back to work if you want to. Here’s what you need to know.
Even if you are already in your 50s on a low to medium income, it’s not too late to achieve your retirement income goals.
If you’re in your late 40s and want to continue your affluent lifestyle in retirement, it’s time to crunch the numbers and boost your super if necessary.
Self-managed super funds are generally a family affair, but “mates rates” for fund transactions or business dealings are strictly off limits.
It can make sense to bring your UK pension funds home to Australia, but the process is far from straightforward. We explain how it’s done.
If you want to exercise your right to choose a super fund, you must complete the Standard Choice Form that your employer gives you, and return it to your employer.
Even if you outsource most of the boring SMSF admin, there are two annual tasks trustees can’t avoid.
SuperGuide is Australia’s leading superannuation and retirement planning website.
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