If you don’t qualify for a government payment when you retire, it can seem like there isn’t much help available when it comes to your living expenses. But many people overlook just what the Commonwealth Seniors Health Card (CSHC) can provide. If you’re eligible, this concession card gives you access to cheaper health ... Read more
Should I retire overseas?
Alan and Ros Cuthbertson are living their dream. The Queensland couple, both in their 60s, spend half the year in Thailand, and the other six months housesitting throughout Asia and Europe.Their website, Frequent Traveller, is full of advice on planning the perfect holiday with tips on how to make your travel dollars ... Read more
How to check if your mum or dad’s nursing home is up to scratch
If you’ve read the headlines about poor standards in Australia’s nursing homes, it’s only natural to be concerned about your own family or friends in residential aged care. For instance, there was news in recent weeks that 45 of 72 Bupa nursing homes in Australia had failed to meet all health and safety standards, with ... Read more
Super scams: What are they and how do you avoid them?
As technology advances, so too do the ways and means by which scammers can extract money from people. Superannuation, self-managed superannuation funds (SMSFs) and individuals’ investment funds are increasingly being targeted by scammers due to the sheer size of the funds available, and advancements in technology which ... Read more
Definitive guide to the $1.6 million transfer balance cap
One of the most significant changes to superannuation – the introduction of the $1.6 million transfer balance cap – became effective on 1 July 2017. The Australian Taxation Office (ATO) estimates the changes will impact only 1% of Australian superannuants, however that 1% needs to be clearly across the Treasury Laws ... Read more
What to do if the market tanks and you’re retired, or close to it
These are challenging times for investors, especially if you’re about to retire or already drawing on your super. After 10 years of positive returns from super and 28 years without a recession in Australia, the risk of a market correction or a more prolonged downturn are building. Geopolitical and economic risks are ... Read more
Australian Age Pension rates (September 2019 to March 2020)
The rates for a full Age Pension for Australian residents for the period 20 September 2019 to 19 March 2020 are listed below:Single: $933.40 per fortnight (approximately $24,268 per year) - an increase of $7.20 per fortnight Couple (each): $703.50 per fortnight (approximately $18,291 per year) - an increase of $5.40 ... Read more
Age Pension calculator: How much could you be eligible for?
Welcome to the SuperGuide Age Pension calculator. Using the calculator is easy. Enter your details in the calculator below (in the yellow blocks) and you will see an estimate of amount of Age Pension you may be eligible for. You can skip any question that doesn't apply to you. Help information is available on ... Read more
Am I eligible for the Australian Age Pension?
Your eligibility for the Australian Age Pension depends upon your age, residency and whether you pass what is known as the “means test”. The Age Pension is one of the ‘three pillars of retirement income’ in Australia – along with superannuation and private savings. It plays a critical role in retirement income for ... Read more
Age Pension income test rules (September 2019 to March 2020)
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”. This article details the rules of the Age Pension income test (how much you earn) which is a half of the means test (along with the assets test) that determines how much Age Pension you could be ... Read more
Age Pension assets test rules (September 2019 to March 2020)
A common question for those nearing or in retirement is “How much money can I have before it affects my pension?”. This article details the rules of the Age Pension assets test (how much your savings and other assets are worth), which is one half of the means test (along with the income test) that determines how much ... Read more
5 ways sequencing risk affects your retirement
Everyone knows about Murphy’s Law, but the old adage that ‘anything that can go wrong, will go wrong’ is really important when it comes to your retirement plans. Among financial nerds, this concept is known as sequencing risk. And it has the potential to wreak havoc on your retirement plans. So, what is sequencing ... Read more
Taking your super early due to ill health? 7 tips to help
Nobody expects to become sick. Even fewer of us think declining health will see us leaving employment earlier than we want, but in fact it’s quite common.In 2016-17, personal health or physical ability was the main reason 21% of older workers decided to retire, according to Australian Bureau of Statistics ... Read more
How to navigate the different phases of retirement
When we talk about getting a retirement plan together, we usually mean planning how we are going to fund our lifestyle after we’ve stopped working. But while saving for your retirement is vital, preparing yourself emotionally for this major life transition is just as, if not more important. We look at the five phases ... Read more
Retirement age calculator: When can you access your super or the Age Pension?
Although there is no ‘retirement age’ in Australia, there are two ages that are important to know for planning your retirement:Preservation age: This is the age when you can access your super funds provided you have also met a condition of release (such as retiring or turning 65). Age Pension age: This is ... Read more