Monthly Commentary - OCTOBER 2017

Monthly Commentary - OCTOBER 2017

Inflation remains low through most of the world, although the weaker Pound has seen UK inflation move above 2%. As a result, the Bank of England increased official rates at its November meeting. Politics dominated Asia with the Chinese National Congress and Japanese elections.

How do I transition to retirement?

How do I transition to retirement?

Transition to retirement income streams allow you to withdraw up to 10% of your superannuation savings in the form of a pension without needing to stop work.

Even if you’re nearing retirement age you mightn’t be looking to leave the workforce just yet. Maybe you want to save more money, or perhaps you enjoy the mental stimulation and interaction.

What is salary sacrifice?

What is salary sacrifice?

When you make a sacrifice, you're usually giving up something now to gain something later.  Salary sacrificing into your super fund is no different—you’re giving up money that would otherwise be in your take-home pay. But in return, you’re boosting the amount you have in retirement and saving (a lot!) on tax.

Why Young People Should Care About Super

Why Young People Should Care About Super

Forty percent (40%!!) of young people have no idea what their super balance is and a further 16% only have a ‘vague idea’, according to ASFA.  This is concerning when you consider that for many of us, what’s in our super is probably a lot more than what's in our bank account!

Can I choose who receives my superannuation when I die?

Can I choose who receives my superannuation when I die?

The short answer is yes, but the legal answer is ‘it depends’.  Superannuation can't be included in your Will unless you've given your super fund specific instructions first.  To ensure your super will be included in your estate, you must nominate a beneficiary directly with your fund.

GUEST POST: The Curse of the Homemade Will

GUEST POST: The Curse of the Homemade Will

A Will is one of the most important documents a person can make… doesn’t it make sense to get it right?  Many people try to save money by preparing a ‘homemade’ Will or using a ‘Will Kit’ purchased from the local Newsagent or Post Office.  Chris Sheath, of Chris Sheath & Associates, is an Accredited Specialist in Succession Law (Wills and Estates) and knows that these kinds of Wills often lead to expensive legal battles.

 

Are you ready to take control of your financial future

Toowoomba Financial Planners
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    Toowoomba QLD 4350
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Corporate Authorised Representative of Magnitude Group Pty Ltd ABN 54 086 266 202, AFSL 221557. Christopher Black is an Authorised Representative of Magnitude Group Pty Ltd and may offer you services through Fortress Financial Solutions Pty Ltd. Magnitude is only responsible for the financial planning services provided by Christopher Black. This information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, you should consider whether the information is appropriate in light of your particular objectives, financial situation and needs.
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