Author: Recruitment Super

Retirement – a golden age of leisure, travel, and pursuing passions. But to reach that point, a solid investment strategy is crucial. Here’s how to navigate the world of investments specifically for a comfortable retirement: Understanding Your Timeline: The key to a successful retirement strategy is time. The further you are from retirement, the more…

What are Non-Concessional Contributions? Unlike concessional contributions (where you get a tax deduction), non-concessional contributions are made from after-tax dollars. These contributions are not taxed within your super fund, allowing your retirement savings to grow faster. They are ideal for individuals who have already maxed out their concessional contribution limits or have additional funds available…

While this page is focused on financial products in Australia, let’s delve into Roth IRAs, a retirement savings option available in the United States. Understanding how Roth IRAs work can be beneficial for US citizens living in Australia or those planning to return to the US in the future. What is a Roth IRA? A…

A Traditional IRA (Individual Retirement Account) is a powerful tool for building a nest egg for your golden years in the United States. It offers significant tax benefits to help you save and grow your retirement funds. Let’s delve into how Traditional IRAs work and how they can benefit your retirement journey. Tax-Advantaged Savings: The…

Imagine a secure vault specifically designed to accumulate funds for your golden years. That’s essentially what a retirement superannuation fund, often shortened to “super fund,” is in Australia. It’s a specialized account that acts as a central hub for your retirement savings, growing over time to provide financial security after you stop working. Key Function:…

What is a Superannuation Withdrawal Benefit? Simply put, a Superannuation Withdrawal Benefit is the money you receive when you tap into your accumulated super savings. There are two main ways to access this benefit: Eligibility for Withdrawal: You can’t access your super whenever you want. The Australian government sets eligibility criteria to ensure these funds…

Think of your super fund like a delicious pie. The pie itself represents the total value of all the investments the fund holds (shares, bonds, property etc.). This pie is then sliced into tiny pieces called “units.” Each unit represents a small ownership stake in the entire pie. Unit Price: The Value of Each Slice:…

What are Superannuation Tax Deductible Contributions? These are voluntary contributions you make to your super fund from your pre-tax income. This means the money comes out of your salary before tax is calculated, reducing your taxable income for the year. The Australian Taxation Office (ATO) allows you to claim a tax deduction for these contributions,…

Imagine you’re an employer in Australia. You have a responsibility to contribute a minimum percentage of your employees’ salaries towards their retirement savings, called Superannuation Guarantee (SG). This contribution goes into a super fund, which your employees can access later in life. But what happens if you miss these contributions or pay them incorrectly? That’s…

The Players Involved: How Super Works: Benefits of Super: Choosing a Super Fund: When it comes to super funds, there’s no one-size-fits-all solution. Here are some factors to consider when choosing a super fund: Additional Resources: By understanding superannuation and making informed choices, you can ensure a comfortable and financially secure retirement.