It’s often been mentioned that $1 million or more in superannuation savings is needed to live a comfortable retirement. This is a daunting figure for most of us and, unsurprisingly, has many Australians concerned about the kind of retirement lifestyle they have to look forward to.
June 30: Get your (financial) house in order
Time is running out to get your financial house in order before 30 June. This is especially the case for anyone who has funds available to make a large cash injection into their superannuation retirement savings before the rules change.
How to make retirement less taxing
Planning your retirement isn’t just about what you are going to do once you stop work. It’s also about planning the actual process to make the most of your accumulated wealth. This includes tax planning.
2016 Federal Budget: How will it affect superannuation?
Treasurer Scott Morrison has handed down his first Federal Budget—the Coalition Government’s third. The winners are low and middle income earners and small business owners.
Super tips for different ages
Super tips in your 50s If you plan to retire in the next 10 to 15 years, you may need to focus more on your super. Consider making extra contributions and reviewing your investment strategy. Be aware that if you make contributions greater than the super contributions caps you will have to pay extra tax.