The title for the oldest Australian rests with Christina Cock who was 114 years, 148 days old when she died in 2002. While there aren’t many people who could claim to reach such a fine age, the 2015 Intergenerational Report tells us that Australians are living longer. This means that we all need to plan for more years in retirement than any previous generation.
Read MoreTopics: Superannuation
The last article in the series of super through the generations explains what to do to improve super balances in potentially the last decade before having to rely on it. It covers salary sacrificing, TTR, investment focus and insurance, and a recommendation to seek professional advice soon.
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This third article in the 4-part series on superannuation through the generations calculates how much will be needed for retirement in 20 years, how to increase the balance, salary sacrifice vs paying off mortgage, government contributions, and insurance through super.
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Did you know that women need to have more money for retirement than men? Why would women need more money than men? I mean, everyone’s retirement is the same, right?
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We’re already preparing for and predicting some changes to be announced to the treatment of superannuation tax concessions in this year's budget. I’ll be hosting a luncheon next month to discuss what the budget might mean for small and medium businesses in Central Queensland and beyond.
Add to that the fact that the Australian Tax Office (ATO) has just released two new rulings in relation to Related Party Loans and it quickly becomes evident that it’s time to review and plan your Self Managed Super Funds (SMSF) to ensure you will be compliant.
So, what can you be doing right now with your SMSF Related Party Loans to pre-empt budget announcements and adapt to ensure you are working within the framework of the ATO’s new changes?
Read MoreTopics: Superannuation