Friday, 17 November 2017
Friday, 17 November 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.
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.
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.
Adding money to superannuation has its advantages and so does making extra repayments on your home loan. So, if you’ve got some extra cash, how do you choose where to channel it, or should you do both? We help you weigh up the options.
Welcome to the next instalment of our ‘cost of living’ series, where we explore the cost of living in different cities and towns all around Australia. In this post, we will explore the cost of living in Fernvale QLD.
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!
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.
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.