Superannuation
Most people think of superannuation as a tax-favoured way of saving for your retirement. For employees, it is compulsory. For self-employed people, it is optional. For everybody, it is a great idea.
But superannuation is about more than retirement planning. It is actually a cornerstone of most people’s financial plan. This is because ‘super’ touches every other aspect of your financial planning. The way you manage your super impacts on how you manage your insurances, your other investments, your tax planning, your retirement planning, your marriage, your divorce, how and when you might help your adult kids out financially, your estate planning and even how you repay your own mortgage.
It is super by name and even more super by nature.
There are three types of super fund: retail funds, industry funds and self-managed superannuation funds. Different clients are suited to one or more of these types, and sometimes it makes sense to use more than one type in combination. We help you select the appropriate type of fund. We then help you make best use of whichever option you take. This is important because super can and should be incorporated into your thinking about everything to do with your finances.
If you decide to manage your own super (a ‘self-managed super fund,’ or SMSF), we assist with all facets of establishing and maintaining this fund. This includes liaising with external legal professionals to facilitate the production of all documents needed to start, and our advice on the assets you hold within the fund.
Relevant Articles...
What happens to your super when you don’t need it any more?
Superannuation benefits are not automatically subject to your will. That means the trustees may not send the money where you want it to go when you die. But there is a solution! Read on.
Splitting super contributions between you and your spouse.
'Super splitting' is not just a term for managing super when a couple separates. Couples who remain together can also split super between themselves. This opens up a raft of planning opportunities, which we explore in this week's article.
The pension is not a plan
In December 2017, the OECD released its biannual report on social security systems in its member countries. The latest report is sobering reading for Australian retirees - more than a quarter of whom are living below the poverty line. This article will help you ensure that your retirement is truly something to look forward to.
The Government is Giving Away Free Money!!!
Yes, it’s true. The government is giving away free money. There are a few catches, however, and they’re not going to give you a fortune. But if you qualify, this is a government perk that is well worth contemplating.