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Superannuation & Investment

Recent Activity

Ben A.
Ben A.
Hamilton, NSW
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I have $350,000 in super and thinking of using to fund a property development in Brisbane where I can buy the property, move the existing Queenslander to own side and create space for two townhouses. The sale price is around $800,000 and I will need about $500,000 to build. I’m 53, not married, no kids and earn $180k a year. Own my own home and have an unencumbered investment property valued at $600,000. The idea would be to sell the property in Brisbane is 5 years to help fund retirement. Is this a good idea ?

2 months ago
Ian C.
Ian C.
Sandy Bay, TAS
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SMSF. I have worked at 2 jobs in the beginning of 2017 - 3 days a weeks a Permanent employee, the other job doing odd jobs as self employed.

I stopped the odd job role in 2017

Under the superannuation rules is this ceasing of an employment arrangement, yet still being employed as a permanent part time worker, sufficient to move me into retirement mode for my SMSF fund?

If you can locate and include any references it would be appreciated.

I am 63 years of age.

2 months ago

Hi
My partner started a retirement security plan with National Mutual (then AXA and now AMP) in 1981 when he commenced empkoyment at 19.Now, 40 years later, the account balance is $80000.The fees are very high, however, there is also an exit fee of currently over $6000 payable if he was to change funds.Did the Royal Commission look into this exit fee rip off.Would he be better to transfer funds to a good industry super fund and suck up the exit fees.He is not working at the moment, but we will have some money to put into super when our investments mature just aftwr his 60th birthday.

3 months ago
Jessie T.
Jessie T.
Katoomba, NSW
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Hi,
Just turned 60 and want to ask a question about my pension. My partner of 8 years and I have decided to go our own ways and we will look to sell a little investment property we have in Forster. It is 50/50 and probably sell for about $380,000, no debt.

I own my own home, about $640,000 so if I get $190,000 less costs from the sale, how will it affect my pension, thank you

7 months ago
Anthony M.
Anthony M.
Balgowlah, NSW
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Hi, my mother has retired and wants to buy into a retirement village. She has no debt on her home and wants to look at renting her existing home until the property market picks up again. That means she will need to borrow against her home to buy into the retirement village. The rent should cover the loan. Our concern with what’s gone with the Royal Commission is will she be able to get a loan? If she has to sell her home that could take a while, or worse still, she gets a bad price in an under-performing market.

7 months ago
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