Retirement Planning
Navigating Financial Risks and Retirement
Introduction: The Changing Perception of Life Expectancy Life expectancy is one of the most widely misunderstood concepts in retirement planning. It is often quoted as a single number—a statistical average—but this simplification obscures the complexity of individual survival probabilities. For retirees, this misunderstanding can lead to miscalcu- lations about how long their savings need to…
Read MoreStrategies for a Secure Retirement In Australia
Introduction Retirement is a milestone that many Australians look forward to—a time to relax, pursue passions, and enjoy the fruits of decades of hard work. Yet, for Generation X (those born between 1965 and 1980), the path to a secure retire- ment is less certain than it was for their parents. Economic shifts, evolving superannuation…
Read MoreCan you add to a retirement pension?
“I’ve heard that once I start drawing my pension, I can’t add further funds to it. Is this true?” It’s a common misconception that you can’t boost your income stream after you start receiving a pension. While pension accounts don’t directly accept additional contri- butions, there are strategies to “refresh” your pension. For example, you…
Read MoreThe Evolution of Retirement Planning
This article will explore the key changes in superannuation thresholds, delve into the complexities of investment risk in superannuation, and examine emerging retirement income strategies.
Read MoreDownsizer Contributions to Super
Since July 2018 thousands of people have taken advantage of the Government’s downsizer contribution scheme by selling their home and making contributions to their super. This has allowed older Australians to have more money to fund their retirement.Although this is good news for people who have benefited from this scheme, some people may have missed…
Read MoreBe in control of your retirement
Are you approaching retirement? Then chances are the funding of your lifestyle in retirement may be on your mind. Take steps now to avoid getting caught short on retirement income and live the retirement lifestyle you want.The qualifying age is increasing by six months every two years until it reaches 67 in July 2023. The…
Read MoreWill you be able to live the retirement lifestyle you want to?
Australians, on average, are living longer than ever, thanks to better health and medical advances. That means the longer you live, the more money you will need for your retirement. Whatever your plans, it’s vital you have a strategy in place so that you can build your retirement savings as much as you can before…
Read MoreHaving enough in retirement
At some point you will retire. Many of us hope that is sooner, rather than later. We hope that we can retire with enough life left in us to enjoy all the things that took a backseat during our working years. We want enough money to be comfortable and safe in the knowledge we won’t…
Read MoreBreak free from being asset rich and cash poor
Here are four ways to try boost your income. Are you asset rich but cash poor? You’re not alone. Data from the Australian Bureau of Statistics shows that almost one-third of older Australians in low-income households were asset rich but cash poor.[1] Most of their wealth was tied up in illiquid assets, in particular their…
Read MoreFederal Budget
How will the Federal Budget affect you? This year’s Federal Budget is an ‘election budget’ with future tax cuts for all Australians, especially low and middle income earners. Overall, there were minimal changes to super proposed in the Budget, with minor changes to super contributions for older Australians. We’ve summarised some of the key points…
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