As we get older, it’s important to maintain a well-balanced diet to stay energised, avoid nutrient deficiencies, maintain strong immunity and prevent disease. But, at the same time, our lifestyles and eating patterns can change as we age. We tend to be more sedentary, have a reduced appetite, and illness and mobility ... Read more
Planning for retirement
A Super Guide
People often don’t start thinking about retirement until they are about to stop work or have the decision forced on them. And that’s a wasted opportunity.
Now that we are living longer, retirement may last three decades or more. That’s a long time to regret not doing more to plan and save for a personally fulfilling, financially secure retirement.
With a little planning, you can make a big difference to your retirement outcome.
In our article How to plan for your retirement we outline how to start planning for retirement in seven easy steps. These include thinking about your dream retirement, how long it might last, what it will cost, how much you need to fund it, how much you have now, whether your savings are on track and what you can do to close the gap.
Set out below are key SuperGuide links on Planning for retirement:
- Retirement planning for beginners
- What age can I retire?
- Age-based Super Guide
- How long will I live?
- How much super do I need?
- Retirement Calculators and Reckoners
- $1.6 million transfer balance cap
- Types of super benefits
- Am I eligible for the Age Pension?
- Obtaining financial advice
Set out below are key SuperGuide articles on Planning for retirement:
Set out below are all SuperGuide articles that relate to Planning for retirement.
Don’t die wondering: Apps may soon be able to predict your life expectancy, but do you want to know?
By James Jin Kang, Edith Cowan University and Paul Haskell-Dowland, Edith Cowan University When will I die? This question has endured across cultures and civilisations. It has given rise to a plethora of religions and spiritual paths over thousands of years, and more recently, some highly amusing apps. But this ... Read more
What concession cards are available for Seniors and Pensioners?
It’s a common misconception that older Australians are only eligible for concession cards if they are on the Age Pension. In fact, some concessions may be available even if you’re not yet retired. There are a range of concession cards that Australian seniors and pensioners may be eligible for. Depending on the card, ... Read more
What retirees need to understand about property insurance
The bushfires in Australia have ravished millions of hectares, left thousands of people homeless and killed millions (if not billions) of native animals. One demographic group that may be overrepresented in the coastal and mountain regions, that are particularly prone to bushfire, are retirees that have decided to ... Read more
How long you can expect to live, and what it means for your super
Ever wondered how long you’ll live? Or wondered what your life expectancy could mean for your super savings? Well the answers may surprise you, as it could be a lot longer than you think. Life expectancy is a complex topic, so SuperGuide has put together a straightforward guide to help explain the key concepts – ... Read more
How to plan for your retirement
Some of us dream about the day we can finally stop work and do all the things we never have time for. The chance for extended travel without having to race back to work, to pursue hobbies, make a sea or treechange or spend time with the grandkids. Some love their work and want to keep contributing as long as ... Read more
Beginner’s guide to making super contributions
Building a sizeable retirement nest egg can take some effort, but a recent study by Roy Morgan found only 18% of employees with super currently have more than the compulsory 9.5% of their salary or wages going into their super fund account. This is a significant drop from 2009, when nearly a quarter (23%) of workers ... Read more
What retirees say they would have done differently
Paula, 66, teacher, retired 2014 “I would have invested more in property. I worked in Sydney from 1977, so I could easily have bought enough property to provide myself with a very healthy retirement fund today. When we were young, we thought owning a house meant being tied down but as it turned out owning your own ... Read more
Key superannuation rates and thresholds (2019/2020 year)
There are a range of key rates and thresholds that can affect your super, including: Concessional contributions cap Non-concessional contributions cap Division 293 tax Superannuation guarantee (SG) Superannuation co-contributions Tax offset for super contributions on behalf of your spouse Low-income ... Read more
10 hidden perks that make your super account even better
Besides being a great way to save for retirement, Australia’s super system offers some valuable – but little-known – benefits for super fund members. If you’re in the right super fund, there is a swag of freebies and helpful services you can receive – often without having to lift a finger. Here’s SuperGuide’s list of ... Read more
5-step guide to deciding if it’s time to change your investment option
Everyone asks themselves from time to time whether their super fund is performing and what its current performance means for their retirement plans. If you believe your super fund is not performing as well as you had hoped, or as well as other super funds, what can you do? Here’s SuperGuide’s 5-step guide to help you ... Read more
3 questions to ask when choosing a responsible investment option
Although you might want your super fund to produce a good investment return every year, many fund members also want their money invested responsibly and in line with their personal values. If you feel uncomfortable with your retirement savings supporting activities like fossil fuel mining, development of armaments or ... Read more
What are the buy/sell spreads charged by my super fund?
Mention a buy/sell spread and even the most interested super fund member will look confused, as these spreads are one of the least understood costs of being a fund member. But buy/sell spread fees are something we’re all likely to see a lot more of thanks to ASIC’s new disclosure rules for annual fund member ... Read more
How to change your investment option: 6 points to check before you switch
Opening the annual member statement from your super fund can be a source of disappointment for some people. If you’re unhappy with how your super savings have grown, it might even have you considering switching super funds. But before taking a drastic step like that, it’s worth considering whether or not you’re in the ... Read more
Your simple guide to state Seniors Cards: How they can save you money
Everyone loves a bargain, but once they turn 60 many people forget to grab one of the best deals on offer – their state government’s Seniors Card. Even if you have not fully retired from the workforce, it’s worth checking to see if you are eligible for a Seniors Card, as in many states the rules allow you to undertake ... Read more