Contribution strategies, Super fund performance, Top funds, Year in review, Retirement Income Covenant, Planning for retirement
Highlights of the July 2022 edition of the SuperGuide Premium newsletter include:
- HOW TO BOOST YOUR SUPER: If your super is looking a bit anaemic, these strategies could help it recover.
- SHORT TERM-PAIN, LONG-TERM GAIN: The 2022 financial year was tough for super funds, but the long-term picture is brighter.
- TOP 10 FUNDS: Despite the turmoil on global markets, some funds kept their head above water.
- YEAR IN REVIEW / PREVIEW: Volatile markets challenged investors in 2021-22, and it’s not over yet.
- THE RETIREMENT INCOME COVENANT AND YOU: From 1 July funds must display their retirement income strategy, but you may have to search for it.
- YOUR RETIREMENT QUESTIONS ANSWERED: If you’re approaching 55, 60 or 65 and planning to retire, this is what you need to consider.
Super funds surmounted a wall of worries in 2023 to post a return of almost 10%, thanks to buoyant global share markets.
They say a picture is worth a thousand words, so we’ve created a visual representation of super’s value in the long run.
Super funds continued their winning streak in January, with the median Growth fund up 1% over the month.
Lifecycle funds are designed to reduce risk as you near retirement without sacrificing returns; recent research shows many do just that but you need to know what to look for.
The list of top 10 Growth funds in 2023 rounded up some of the usual suspects with a few newcomers, but over 10 years the top funds remain remarkably consistent.
While all super funds aim to deliver good long-term returns, some also strive to smooth short-term fluctuations along the way to take some of the worry out of investing for their members.
HOW SUPER WORKS
Retirement Income Covenant goes live, Super fund average performance drops, Deeming rates frozen, YFYS performance test to be reviewed, SMSF numbers continue to increase.
Your first job can be exciting, but it’s important to remember your weekly pay could come with super contributions, so here’s the rules applying in your teens.
In the early years of your career, there’s a lot competing for your hard-earned dollars. But your super is important too, so here’s the lowdown.
When you reach your 50s, it’s time to get serious about your super, so here’s the key super rules for your age group.
When you reach your 60s, the rules around making contributions and withdrawals from super start to change, so it’s important to know what’s what.
If you’re still adding to your retirement savings in your 70s, it’s important to know the super rules, as making contributions becomes tougher after age 75.
SuperGuide webinar: Downsizer contributions
Thursday 28 July 2022 at 11.00am (AEST)
In this exclusive webinar super expert Garth McNally will detail what you need to know to get the best outcomes with Downsizer contributions, including how the eligibility rules work, and timing, Centrelink and strategy considerations.
SUPER CONTRIBUTIONS STRATEGIES
Eligible downsizer contributions can be a great way to boost your super without falling foul of many of the rules affecting other super contributions.
If you are looking for ways to save a bigger first home deposit, changes on the horizon promise to remove hurdles to the FHSSS and make the scheme simpler to use.
Couples who plan together succeed together. Learn how paying attention to your spouse’s super could maximise your opportunities.
Salary sacrifice can be a convenient and simple way to boost your super and reduce your tax bill at the same time. Learn how to get it right and the alternative to consider.
Using the bring-forward rule is a great way to put a larger contribution into your super account in a single year. Here’s what you need to know about the rules.
The rules for making super contributions after age 67 have been relaxed substantially, but you must still meet a work test for one type of contribution.
Take the following 10-question quiz to test your knowledge on boosting your super with superannuation contributions.
Investors climbed a wall of worries in the closing months of the financial year, from rising inflation and interest rates to fears of recession.
As your circumstances or the regulatory environment changes, your trust deed may also need updating.
SMSFs are often taken to task for relying too heavily on cash and Australian shares, but the picture is more nuanced if you scratch below the surface.
The new retirement income covenant effective from 1 July doesn’t apply to SMSFs, but that doesn’t mean trustees can’t learn from it.
From 1 July, super funds are required to provide a retirement income strategy to members, but you may need to search for it.
If you’re planning on retiring before age 60, there are many questions you’re likely to be asking yourself about your super and any financial assistance you can get.
When you’re planning to retire at 60, there’s lots of questions you need answers to when it comes to your super and the available financial assistance.
At 65 retirement is beckoning, but you probably have lots of question you need answered about your super and the assistance available to retirees.
The Home Equity Access Scheme can be a great way to boost your retirement income by taking a loan from the government against the equity in your home.