Labor’s franking credits policy, How much super will you need?, SMSFs and insurance, Death benefits
Welcome to the October 2018 edition of the SuperGuide Premium newsletter. Highlights include:
- LABOR’S FRANKING CREDITS POLICY: Jim Bonham illustrates how the ALP’s policy will significantly reduce the income for not just SMSFs, but also low and middle income direct shareholders.
- HOW MUCH SUPER WILL YOU NEED? In a series of articles we examine the fundamental questions – when should you retire, how much will you be spending in retirement, and (therefore) how much super will you need? We also crunch the numbers on whether $1m is enough to retire on, and how much super you need to retire on $100,000 per year.
- SMSFS AND INSURANCE: All SMSFs need to consider insurance as part of their investment strategy. We present the rules, the benefits and some frequently asked questions.
- LIFE INSURANCE: Thanks to SuperRatings we can announce the 20 funds with the lowest fees for life / TPD insurance, and the 20 funds with the lowest fees for Income Protection insurance.
- DEATH BENEFITS: Death and taxes are a fact of life, and tax cannot be avoided even by dying. We cover the super death benefit rules in detail and present tax strategies you may wish to consider.
In this article, I dig into this subject in more detail, particularly for those who hold their shares directly in their own names, to show what the ALP proposal really means and how it would operate.Read more
Life expectancy is a complex topic, so we’ve put together a straightforward guide to help explain the key concepts – enabling you to plan your retirement with a bit more confidence.Read more
Planning for your retirement and working out how much you’ll need to enjoy a good standard of living after your working years can be a complex task, and one factor that needs to be considered is inflation.Read more
The tax on your super death benefit can be tricky to understand, but it’s important to know what’s what so your beneficiaries don’t end up paying too much tax.Read more
WILL YOUR MONEY LAST AS LONG AS YOU? (UPDATED FIGURES)
Knowing what and where you will spend will make retirement planning much easier, and help you avoid retirees’ biggest fear: outliving their savings.Read more
The amount of super YOU need to retire will depend on your personal circumstances, financial resources both inside and outside super and your lifestyle. So before you set an arbitrary super target, block out the fearmongers and think about the big picture.Read more
The decision about when to retire is rarely made overnight. It’s a major life event and deserves careful thought and planning. Finances play a big part, but so do your health, your partner’s circumstances and whether you still enjoy your work or are itching to leave.Read more
The widely-reported ASFA Retirement standard suggests couples can enjoy a ‘comfortable lifestyle’ on just over $60,000 a year while singles can do the same on around $43,000. If that sounds less than comfortable to you, perhaps an income of $100,000 a year is closer to the mark.Read more
SuperGuide’s Super to income Reckoner can help you quickly and simply understand approximately how much retirement income your super savings might be able to generate.Read more
A million dollars is often bandied about as the gold standard of retirement savings. It certainly sounds like a lot of money, but is it enough to retire on not just comfortably but in style?Read more
Since 1 July 2017 there has been a $1.6 million limit on the amount you can transfer into a super account in pension phase. The question is, is this an arbitrary figure dreamed up by bureaucrats or is it enough for a dream retirement?Read more
Life insurance premiums inside superannuation are on the rise due to legislation making insurance opt-in for young members, inactive accounts and low balance accounts.Read more
The cost of Income Protection insurance has increased sharply, but some super funds are bucking the trend.Read more
Let’s be frank, at a time of historically low interest rates it’s no wonder SMSF investors have been flocking to franked dividends from shares.Read more
Re-contribution strategies can reduce the tax on your super benefit and may eliminate tax for non-tax dependant beneficiaries like your adult children.Read more
One of the attractions of running your own SMSF is the wide range of investments open to you and the control you have over them, but that doesn’t mean it’s open slather. There are rules you need to follow.Read more
Insurance cover through your super fund offers cost effective protection for your family if you die. Here’s a simple guide to death cover, with a checklist of issues you need to considerRead more
SMSF trustees regularly need to assess whether each member of their fund has an appropriate level of insurance. In this article we look at whether there are benefits having insurance inside your SMSF rather outside your super fund.Read more