Working out how best to grow your super nest egg can be confusing and selecting the right mix of concessional (before-tax) and non-concessional (after-tax) contributions makes it even tougher. Whether you make small contributions over time, add a large lump sum, or use the potential tax advantages of contributing ... Read more
Case studies: How is the Age Pension assessed?
The current (20 March 2019 to 19 September 2019) maximum rates of Age Pension are as follows: Single: $926.20 per fortnight (approximately $24,081 per year) Couple (each): $698.10 per fortnight (approximately $18,051 per year) Note: Includes base pension + supplements. Learn more about Age Pension rates. Not everyone ... Read more
Retirement planning case study: Couple aged 58 and 60
Dan (60) is a freelance web designer who earns $76,000 per year. He hasn’t always put money aside for super, so his balance is a relatively low $120,000. His wife Jenny (58) is a registered nurse on a salary of $85,000 with a super balance of $230,000. Their two children are independent adults and they have a ... Read more
Retirement planning case study: Couple aged 47 and 48
Chris (47) earns $180,000 per year and has $430,000 in super Lisa (48) earns $80,000 per year and has $220,000 in super They have one daughter at university and are close to paying off their mortgage They want to know if they are on track to retire when Chris turns 60 Chris and Lisa currently enjoy a more ... Read more
Retirement planning case study: Single woman, aged 52
Deb (52), is divorced and single She earns $60,000 per year and has just $85,000 in super after taking time out of the workforce to raise her two children who are now independent She is on track to own her home outright within a few years but has no other investments outside super She won’t be eligible for the ... Read more
Did tax kill the transition to retirement magic pudding?
Transition to retirement (TTR) pensions used to be referred to as the Magic Pudding because like Norman Lindsay’s famous cut-and-come-again pud you could have your cake and eat it too. The pudding may be a bit smaller since the government tightened the tax rules back in 2017, but a TTR pension is still appetising for ... Read more