When you’re in your 20s, retirement can seem a long way off, but there are some important things you can do. Here are our 10 top tips to ensure your savings stay on the right track.
Set out below are all SuperGuide articles that relate to Age-based Super Guide.
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You’ve barely reached mid-career and retirement can still seem a long way off. But there are some important things you need to check when it comes to your super, so here are 10 top tips to help ensure your retirement plans are on track.
In your 50s you’ve turned the corner and are heading into the final career stretch before retirement. So now’s the time to start paying closer interest to your super and ensuring you are set up to reach your retirement goals.
In your 60s and 70s, super is still very important. There are important decisions to make and you need to keep a close eye on how your super investments are performing. Here are some tips on what to keep an eye on.
There are a series of hurdles you need to clear before you can access your super. The first is your age.
Retire at 60, grab your tax-free super and ride off into the distance. Sounds like a plan, but as with everything to do with super, the devil is in the detail.
You can access your super in Australia when you turn 65. It is the most straightforward condition of release. To apply for your super benefits you should contact your super fund.
The current Age Pension eligibility age is 66 years (for any person born between 1 January 1954 and 30 June 1955). If you were born before 1 January 1954 you have already reached Age Pension age, and if you were born after 30 June 1955 your Age Pension age may be 66 years and 6 months, or 67 years, depending on your date of birth.
Although you can retire and access your super if you’re under age 60, the tax man is going to want his cut, so ensure you understand the rules before acting.
Knowing how much tax you’ll pay when you withdraw your super savings is important and the rules change once you reach age 60.
Once you’re in retirement, making super contributions gets a lot trickier. But it’s not impossible if you understand the rules and are willing to use different types of contributions.
Once you get to your late 60s, the rules change when it comes to making personal contributions into your super account. Here’s a simple guide to who is eligible and who’s not.
Making super contributions once you reach age 67 is more difficult as you need to meet the requirements of a work test. Here’s a simple guide to understanding the rules and how they affect you.
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.
Super is a bit like porridge. You know it’s good for you and will sustain you for longer, but the pancakes look so much more enticing. Until you jump on the scales.