Super rule changes, The power of compound interest, Divorce and superannuation, Weighing up super pensions and lump sums, Spotlight on aged care
Highlights of the April 2022 edition of the SuperGuide Premium newsletter include:
- GET SET FOR NEW SUPER RULES: With big rule changes on the way from July 1, we provide tips on how to make the most of them.
- SUPER AND THE SNOWBALL EFFECT: Even small amounts invested regularly can grow into a tidy sum in the long run, thanks to compound interest.
- SUPER INVESTING SPECIAL: We lift the lid on other investing fundamentals including the Sharpe Ratio, diversification and lifecycle super funds.
- THE BIG SPLIT: Super is generally our biggest financial asset outside the family home, but it’s often overlooked in divorce. We explain how to divide your super.
- SUPER PENSION OR LUMP SUM? How you choose to withdraw your super can make a material difference to your retirement outcome, so planning is key.
- AGED CARE REPORT CARD: Two years and a pandemic after the scathing Royal Commission, we look at what’s being done to improve our aged care system.
SUPER NEWS
Super news for April 2022
Australian Ethical and Christian Super explore merger, Super gender gap was decreasing before Covid, Colonial settles class action with super members, Federal Court orders Westpac to pay $20 million penalty, Hostplus expands its investment options, Australian Retirement Trust focusses on ESG with new appointment, Only one third of financial advisers pass February exam, Easter bunny hit by inflationary pressures.
Read moreSuperannuation rule changes from July 2022 (and previous years)
Navigating your way around the constant rule changes in the super system is tricky, so here’s our annual list of the modifications you need to know about.
Read moreSuper fund performance: Monthly returns to April 2022
It will come as no surprise that volatile markets took a toll on super funds in April, with the median Growth fund losing 1.2%.
Read moreIN CASE YOU MISSED IT
2022 Federal Budget overview: Super, tax and retiree announcements
It was a quiet night for superannuation, but the Federal Budget provided some ‘cost of living’ announcements that could give millions of Australians a cash boost over the coming months.
Read moreSUPER INVESTING
The power of compound interest
Even modest regular savings can grow into substantial nest egg, thanks to the combined effects of compound interest and time. Here’s how it works.
Read moreWhat is the Sharpe Ratio and why is it important for your super?
We all want to earn top notch returns from our super fund, but at what level of risk? This is how you find the sweet spot.
Read moreWhy super funds diversify and what you can learn from it
Diversification is one of the key principles behind good investing and there’s a lot you can learn from how successful super funds invest their members’ money.
Read more‘Today’s dollars’: The impact of inflation on retirement income
With inflation and the cost of living on the rise and expected to get worse, it’s worth pausing to consider the impact of inflation on your retirement income planning.
Read moreHow much super should I have at my age?
Saving for retirement isn’t a competition, but it’s good to know if you’re falling behind people your own age and if you need to contribute a bit more.
Read moreWhat are lifecycle super funds, and how do they perform?
These days many Australians have their retirement savings in a lifecycle super fund, often by default. All the more reason to understand how they work, how they perform, and who they suit.
Read moreSMSFs
Divorce and superannuation: How it works
Super is an increasingly important marital asset and one that should not be overlooked when couples divorce.
Read moreWhat are the penalties for SMSF non-compliance?
We all make mistakes, but when it comes to your SMSF it’s important to work with the ATO to rectify mistakes or stiff penalties can apply.
Read moreHow to invest in infrastructure through an SMSF
Everyone loves to ride in planes, trains and automobiles, but what if you could earn regular income from the infrastructure they depend on? You can, and here’s how.
Read moreWhat to do if a member wants to leave an SMSF
If there’s one thing certain in life it’s this – things change. If you or another member of your SMSF want to take your leave, strict rules apply.
Read moreQuiz: SMSFs for beginners
Take the following 10-question quiz to test your knowledge on the fundamentals of self-managed super funds (SMSFs).
Read moreRETIREMENT PLANNING
Tips to make the most of the new super rules
From 1 July 2022, changes to the super rules create new opportunities for older Australians to top up their retirement savings.
Read moreStrategies for boosting your super in the gig economy
While working in the gig economy can be more flexible, it can also be a recipe for a much smaller retirement savings pot if you don’t take steps to fix it.
Read moreSaving for retirement outside super
While super remains the most tax-effective home for your retirement savings, non-super investments have an important role to play, especially for wealthier Australians.
Read more5-step guide to the different types of financial advice on offer
If you’re uncertain about your finances it makes sense to get some help, but it can be difficult to don’t know who to turn to for for unconflicted advice.
Read moreProportioning rule and super tax: What it is and why it matters
If you withdraw your super before age 60 it’s important to understand the proportioning rule and how it will impact the amount of tax you pay.
Read moreIN RETIREMENT
Super pensions vs lump sums: How they differ and why it matters
Retirees can withdraw their super as a pension or lump sum, but does it really matter which? For some of our readers, it certainly could.
Read moreWhat strategies can I consider to reduce tax on my super pension?
When and how you withdraw income from your super in retirement can have significant tax benefits.
Read moreRetirement cost-of-living: Tips to help improve your budget
Inflation is affecting more and more daily essentials but bank interest rates remain stubbornly low, so it may be time to revisit your retirement income plans.
Read moreAged Care Royal Commission report card
The pandemic highlighted massive flaws in Australia’s aged care sector outlined in the recent Royal Commission, but change is underway.
Read more