How much super do I need? Cheapest super and pension funds, Pension fund returns, SMSF checklists, Introduction to aged care videos, Buying a commercial property through your SMSF
Highlights of this bumper February 2020 edition of the SuperGuide Premium newsletter include:
- HOW MUCH SUPER DO I NEED? Barbara Drury looks at what you need to consider when planning when you might retire and estimating how much super you may need. We have also updated our series of articles (and reckoners) with the latest figures, including how much super you need to retire on $40,000, $50,000, $60,000, $80,000 or $100,000 a year, and what retirement income $500,000, $750,000, $1 million, $1.6 million, $2 million and $3.2 million in super can give you in retirement.
- SAVING FOR RETIREMENT: We look at ways you can also save for retirement outside super, and how where you choose to retire is a critical factor in how much you spend in retirement.
- INTRODUCTION TO AGED CARE: In a series of 3 video interviews, Bina Brown gives an introduction to aged care – including mistakes to avoid, ways to educate yourself and how home care packages and residential aged care work.
- SMSF CHECKLISTS: Penny Pryor has developed 4 handy SMSF checklists for trustees – covering annual admin, an investment strategy health check, for trustee meeting events, and when starting an SMSF pension.
- FUND PERFORMANCE: Pension funds had a great year in 2019, and in a separate video interview Ian Fryer from Chant West gives tips on choosing a pension fund. We also look at what drives the strong performance from the 5 largest not-for profit funds, as well as explore the increasing demand for sustainable investments.
Discover the cheapest super funds overall, funds with the lowest fees for each investment category, as well the most expensive super funds.
Super funds stay safe in short-term volatility, NAB hit with new class action, no increase in $1.6m transfer balance cap, older Australians resist home modifications and more Australian seniors would downsize if they could.
People working casually, part-time or in ‘hazardous’ jobs may be paying for junk total and permanent disability insurance.
Super is an increasingly important marital asset and one that should not be overlooked when couples divorce.
Making a tax-deductible super contribution can be a great way to boost your retirement savings. Find out whether they could be the right strategy for you.
HOW MUCH SUPER DO I NEED?
Don’t be rattled by pundits saying you need $1 million to retire. The amount you need will depend on your personal circumstances, not some magic number.
See also our articles on how much super you need for a particular income in retirement:
- How much super do I need to retire on $40,000 a year?
- How much super do I need to retire on $50,000 a year?
- How much super do I need to retire on $60,000 a year?
- How much super do I need to retire on $80,000 a year?
- How much super do I need to retire on $100,000 a year?
- Plus our Income from super Reckoner.
We also have articles on how much retirement income particular super balances can generate
- Is $500,000 in super enough to retire on?
- Is $750,000 in super enough to retire on?
- Is $1 million in super enough to retire on?
- Is $1.6 million in super enough to retire on?
- Is $2 million in super enough to retire on?
- Is $3.2 million in super enough for a couple to retire on?
- Plus our Super to income Reckoner.
With an SMSF you can buy the property used by your business to become your own landlord. But how do you ensure you stay on the right side of the tax man?
Don’t know your NALE from your NALI? Failure to attend to both can lead to some gnarly tax outcomes.
Use this handy printable checklist to make sure you’re on top of your SMSF admin requirements.
If you haven’t looked at your investment strategy in a while it’s probably time for a check-up because slip-ups can be costly.
Running your own super fund offers greater control and flexibility when it comes to paying pensions, but there are still regulatory hoops to jump through.
It’s often said that location is everything where property is concerned, but it also makes a big difference to how far your money stretches in retirement.
As your Total Super Balance impacts your eligibility to make certain super contributions, it’s vital to monitor it regularly when considering your options.
While super is synonymous with retirement, the reality is that many Australians will also draw retirement income from investments held outside super in their own name, a company or trust.
In this video interview Bina Brown, Director of Third Age Matters, gives an introduction into aged care, including common mistakes people make, ways to educate yourself about aged care and other tips for those first thinking about aged care.
Bina Brown explains how residential aged care works, what are the typical wait times and costs, and what you should consider when choosing a residential aged care facility.
Selecting a super pension account could be one of the most important retirement planning decisions you make. Our seven tips will give you the confidence you need to make the most of your hard-earned savings.