Tag: retirement planning book
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Mastering Superannuation Rules for Retirement Success in Your 60s
Understanding superannuation rules is crucial as you approach your 60s. These rules dictate how much you can contribute, when you can access your funds, and the tax implications. The aim is to ensure your super is utilized for retirement income, leveraging Australia’s super system benefits. A PRACTICAL GUIDE TO AUSTRALIAN SUPERANNUATION: A Plain-English Guide to…
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Maximize Superannuation Funds: Essential End-of-Year Checklist
As the financial year draws to a close, it’s time to get your superannuation funds in order and maximize available strategies. Here’s a checklist of essential tasks to address with your advisers before June 30. A PRACTICAL GUIDE TO AUSTRALIAN SUPERANNUATION: A Plain-English Guide to Maximising Your Contributions, Planning for Retir… | $15.39 Firstly, timing…
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Superannuation Industry Evolution: Navigating Future Growth and Challenges
The Australian superannuation industry is at a critical juncture, facing a tipping-point challenge as the balance between contributions and withdrawals shifts. With Australians contributing substantial amounts to superannuation annually, the system is experiencing a significant evolution. Experts predict that by 2062, outflows will surpass inflows, marking a pivotal moment for the industry. This transformation underscores…
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Preservation Age in Australia: Retirement Flexibility and Financial Planning
Australians can access their superannuation at the age of 60 if they have stopped working, or at 65 if they are still employed. This age, known as the preservation age, marks a significant milestone for many individuals as they transition out of the workforce. Originally set at 55, the preservation age was later extended to…
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Strategic Steps at 57 to Secure Comfortable Retirement Lifestyle
At age 57, many Australians face a crucial juncture in their superannuation journey, a pivotal decade before the eligibility for the age pension kicks in. This period marks a critical phase where decisions made now can significantly impact the quality of retirement life awaiting them. The average super balance for this age group falls short…
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Superannuation Sector Sees Modest Growth Despite Mixed Performance
Superannuation returns for the quarter ending March 2025 have shown a mixed performance, with total assets decreasing by 0.8% to $4.1 trillion. Within this, APRA-regulated funds accounted for $2.9 trillion. Despite this decline, superannuation returns saw a modest growth of 5.9% over the past year. A PRACTICAL GUIDE TO AUSTRALIAN SUPERANNUATION: A Plain-English Guide to…
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Private Ruling Clarifies Superannuation Withdrawal Status Upon Member’s Passing
A recent private binding ruling clarified the status of a lump sum withdrawal requested by a superannuation member shortly before their passing. The ruling highlighted that despite the timing of the withdrawal request and subsequent deposit, the funds were still considered part of the member’s superannuation benefits. The ruling focused on a specific case where…
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Simpler Super: Experts Propose Reforms to Ease Retirement Planning
In a recent podcast, Brendan Coates and Joey Moloney from Grattan Institute delve into the complexities of retirement planning in Australia. Their report, “Simpler super,” sheds light on the overwhelming nature of retirement income management for many Australians. Surveys indicate that a significant portion of the population finds retirement planning stressful, leading to financial concerns…