There’s a change in legislation affecting Pensioners…
May 1, 2013
The Value of Advice
November 4, 2015
How Much Superannuation Will I Need???
April 30, 2015
A question that is not easily answered. The amount of superannuation that YOU need is specific to YOU and YOUR circumstances, goals and lifestyle. This article continues our recent theme of superannuation related discussions as the end of the financial year quickly approaches!
Your retirement may be a distant thought or it may be just around the corner. Either way, it's important to know you'll be able to afford the lifestyle you want and deserve.
While Australian employers are required to contribute at least 9.5% of your salary to super, you need to work out if this will be enough for you to live comfortably in retirement.
The amount of super you'll need will depend on your individual circumstances, such as your current age, current income, desired retirement age, desired retirement income and current super balance.
There are other considerations you need to factor in besides the amount of income you make each year, that affect your appropriate balance including:
Any fees and charges
What your life expectancy may be
What your savings levels are
It is a great idea to talk to your financial adviser as they can help you with tips and strategies to make the most out of your super and save more for your retirement.
Tips for growing your super
Here are some quick tips for growing your super that you can discuss with your adviser:
Start as early as possible
Contribute personally and be eligible for the government co-contributions
Consider salary sacrifice scheme
Consolidate your super into one account
Provide your Tax File Number to reduce tax
Choose appropriate investment options that are right for you
We are available to discuss your retirement planning options with you to help ensure you have enough savings to fund the retirement of your choosing. Why not schedule a meeting with us now?
Information current as at 30 April 2015
The advice is general in nature only. Before acting you should consider the appropriateness of the information having regard to your personal objectives, financial situation and needs. You should read the relevant Product Disclosure Statement (PDS) and Policy Document before making any decision about a product.