Royal Commission, Best performing super and pension funds, Estate planning, SMSF housekeeping
Highlights of the FEBRUARY 2019 edition of the SuperGuide Premium newsletter include:
- ROYAL COMMISSION: The final report from the Financial Service Royal Commission has finally been released, and it’s likely to trigger a lot of change for the industry, and hopefully legislation that better protect Australian consumers. Janine Mace provides a summary of the main recommendations that will impact the super and financial advice sectors.
- BEST PERFORMING SUPER AND PENSION FUNDS: SuperRatings have generously provided us with the top 30 performing super (balanced) and pension (capital stable) funds over 5 years.
- ESTATE PLANNING: This can be a complex topic, and is often overlooked or neglected by superannuation investors. We provide an overview of the key elements you need to consider, and a checklist to ensure your estate planning is in the best shape possible.
- SMSF HOUSEKEEPING: Is your Trust Deed fit for purpose? Ali Cain explains why it’s important to review at yours at least annually. Penny Pryor also explains the SMSF investment rules and in a separate article details what is required in your investment strategy, and provides examples of what you might include.
- RETIREMENT PLANNING: If creating a retirement plan seems like too big a task, Barbara Drury breaks it down to a a 7 step process. Barbara also provides three case studies to illustrate some of the key aspects you may want to consider.
The final report from the Royal Commission is likely to result in major change for the superannuation industry – both for super fund members and for trustees and executives managing the large super funds. Read more
When it comes to achieving financial security in retirement, there are myriad cognitive biases that can keep us from making smart decisions with money. Read more
Being in a good performing super fund is one of the key factors for growing your super balance. The recent Productivity Commission (PC) review of superannuation identified that members of consistently poor performing funds would have substantially lower super balances at retirement. Read more
According to the 10/30/60 rule, 60% of your retirement income comes from the investment returns you achieve during your retirement. While this rule originated from a US study, the principle holds broadly true for Australian retirees and underlines how important it is to continue to earn a good investment return in your retirement years. Read more
In this article we highlight some tricky areas, reinforce the need for proper estate planning and updating, and suggest strategies to manage certain situations. Read more
Annuities are relatively simple and secure financial products that provide a guaranteed pay cheque in retirement in return for investing a lump sum for the rest of your life, or for a specified period. Read more
An SMSF’s trust deed is one of its most important assets. While legislation sets out what trustees must not do, the trust deed specifies what a trustee is allowed to do. Now’s the time of year to perform the yearly review of the deed. Read more
Self-managed super fund (SMSF) expenses can be tax deductible provided that they comply with Australian taxation legislation. Read more
Self managed superannuation funds are required by law “to formulate, review regularly and give effect to an investment strategy.” Read more
An SMSF is a very attractive superannuation savings vehicle but it also comes with plenty of responsibility for anyone that signs up to being a trustee. Read more
The small business retirement exemption allows you to disregard all or part of any capital gains made on the sale of a small business or its assets. Read more
The sooner you start planning, the better your chances of making the most of your retirement years. So get the ball rolling by working through these 7 simple steps. Read more
Our SuperGuide retirement planning articles often refer to a ‘rule of thumb’ that suggests you will need somewhere between two thirds (66%) and 80% of pre-retirement income to continue to enjoy your current standard of living. Read more
Dan (60) is a freelance web designer who earns $76,000 a year. He hasn’t always put money aside for super, so his balance is a relatively low $120,000. Read more
Chris (47) earns $180,000 per year and has $430,000 in super. Lisa (48) earns $80,000 per year and has $220,000 in super. They have one daughter at university and are close to paying off their mortgage. They want to know if they are on track to retire when Chris turns 60. Read more
Deb is worried that she won’t have enough savings to live comfortably in retirement and, at age 52, wonders if she’s left it too late to catch up. Read more