The financial planning process isn’t just about your retirement. It’s also making sure that you get to realise your lifestyle potential along the way too.
Embracing the gig economy means you’ll be primarily responsible for building your retirement nest egg. You’ll no longer enjoy the safety net of an employer’s superannuation contribution, and the comfortable retirement you had been planning, could be at risk.
Superannuation is an important part of Estate Planning, but did you know that it doesn’t form part of your estate when you pass away? Get the information you need here to make sure your wishes are respected and your super is distributed the way you intend.
When it comes to saving for your retirement, there are plenty of superannuation vehicles. Retail, industry, self-managed super (SMSF) and more. Question is… which one is right for you? SMSFs are often in the news. Understand some of the benefits of a self-managed super fund here today and then let us book you in for an appointment with one of our professional Advisers to consider your personal circumstances to help you decide whether it’s the right option to enhance your retirement lifestyle.
You can be Young Without Money, but you can’t be Old Without it Did you know there is a good probability you could outlive what you save for retirement? Scary thought isn’t it? Would you like some vital information for you to find out if you can outlive your retirement savings and live your life to the fullest? As the saying goes, "You can be young without Money, but you can’t be Old without it". Retirement Planning Guide: The sooner you begin saving, the more time your money has to grow. So said Tennessee Williams, the American Playwright in the movie Cat on a Hot Tin Roof. This quote was made in the 1950s and its relevance is never truer than now. The Australian Pension age goes up to 67 by 2023 and at this stage is only available for those with under just over $800,000 in assets (in addition to the family home). It’s a catch 22. If you have planned well, by then your superannuation and other assets are likely to be valued at more than this. And if they aren’t, then the pension is not enough to live a comfortable retirement lifestyle. How much is enough to retire on? One way to look at how much you will need is to calculate your life expectancy (see table below), calculate your living expenses. If you are a couple, work out the amount for both of you. For example, if you were a 60 year old female,
Why the All Ords index can’t predict your super fund performance Economic indicators are just one of many tools you can use to guide investment choices Many investors like to keep an eye on the markets in general, or to watch the prices of assets they’ve invested in. When things are going well, this can give them confidence in their investments, but poor market performance can also undermine those good feelings. There’s danger in comparing big market indices to the performance of personal investments because they are seldom similar enough to be truly correlated. There’s nothing wrong with watching the markets, in fact, many investors make quite a hobby of it. However, it’s important to educate yourself on what particular indicators mean and how relevant they are to your individual situation. Economic indicators According to Investopedia, economic indicators are ‘key statistics that indicate the direction of an economy’. There are three kinds of indicators, leading, coincident and lagging. Leading indicators include consumer durables and share prices, and are used to predict which way an economy might move in the future. A coincident indicator (GDP, employment and retail sales) reflects the current state of the economy and relate to specific economic events. Lagging indicators are calculated and released once certain economic events are over. These include Gross National Product (GDP), Consumer Price Index (CPI), unemployment rates and interest rates1. Many indicators are released on a regular schedule and the markets anticipate them, try to predict them and use them to influence
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