• The place to find the right expertise and make better decisions
  • Find the right expertise

Superannuation & Investment

Recent Activity

Annie M.
Annie M.
Closeburn, QLD
1 Likes
0 Followers

There are two of us - with a $280k mortgage, and plenty of equity (no other investments).

A. 63yo with let's say $150k super and "retired"(but no pension). It's so low due to being in and out of a very fickle workforce (and recent (successful) cancer surgery), the life insurance component ate it up - thanks AMP...

B. 53yo (me) with great income and massive super (great employer, permanent role) and obviously some ways to go before retirement (and a $70k windfall pending but goodness knows when - never bank on it).

The question is - would it be beneficial in the long term to withdraw some of A's super (tax free) to reduce the home loan?

With B's income there is plenty of scope to either keep paying the higher mortgage payments for an early payout OR pay lower payments and more into super - need to reduce the pressure on A whose age is and issue getting back into this particular workforce (although we could never prove that). Or possibly gives us more disposable income to enjoy precious life a bit more.

As we age there is always the option of downsizing too - would leave us well in profit. So I am comfie that we will be OK in retirement. But is it a savvy financial decision??

4 months ago
PJ M.
PJ M.
New Farm, QLD
6 Likes
0 Followers

I am thinking of gifting a friend's newborn with a $1000 investment in Spaceship Voyager's Universe portfolio. It is a new fund with ZERO fees up to $5000. No other hidden fees involved. The annual management fee moves to 0.10% after $5000. I like it because it provides a platform that is well suited to the millennial generation and beyond and since my investment is below $5000, it will be free. There are no in-out/brokerage fees.

I understand there are now high taxes imposed on children's unearned income (? income taxed at 66% once it exceeds $416pa). My question is, will this be imposed on the income from the portfolios dividends? And what kind of share portfolio value would yield more than $416 a year (I know this could be a wide range but am just curious if anyone had a rough idea)?

I have been told insurance bonds are another alternative and that low-cost ETFs are another option. I just wanted a platform that would be more targeted towards the younger generation and love how simple the platform provides a way to learn a little bit about different stocks on a mobile device.

P.S if anyone is interested in trying the platform themselves, if you use this link (www.goo.gl/sBDuCa) we will both get $20 to invest in the portfolio. I think if you sign up through the app without the link like I did, you won't get any free money to invest.

4 months ago
Susan W.
Susan W.
Karana Downs, QLD
1 Likes
0 Followers

Hi I am 68 and retired. My accountant has suggested I put all the money from my superannuation account into an income stream as the profits are now being taxed at 15%. However I must withdraw 5% every year. At present I don’t need this money Wouldnt I be better off to leave it in the accumulation account where it is earning a reasonable amount? If I withdraw it I will have to pay more than 15% on any earnings. Or should I just travel more?

4 months ago
Deanne T.
Deanne T.
Fairy Hill, NSW
2 Likes
0 Followers

I have a property valued at $450k, with a $158k interest only mortgage at 3.4% and $158k in an offset a/c. Also $100k sitting in a low interest a/c , i get approx $75 p/mth interest.... i have $30k in super, im currently not working....
Im a widow, and 48yrs.... not recieving any benefits, and no debts, aside from the mortgage.... im hoping to go back to work next year.
My question is with what i have whats the best way to secure my retirement?
Use all my $$ and get a investment property? Put a lump sum onto my super? Wait till i start working again?

4 months ago
James S.
James S.
Surrey Hills, VIC
4 Likes
0 Followers

Hi,

I have a mix of direct shares and managed funds in my super. The return for last year was 15% which was good, but our financial advisers has shared some concerns about the market and the potential for volatility. They’ve made a suggestion to consider a cash out strategy into a diversified portfolio of managed funds. The return may not be as high but there’s less risk. Is this considered a good strategy at this point of time?

5 months ago
VANESSA B.
VANESSA B.
Reservoir, VIC
0 Likes
0 Followers

Hello

My husband and I have just been advised by centrelink that we are not entitled to receive the aged pension because we have too much assets in the form of money, over the $290,000 allowed savings sum. My question is when we live off our savings and deplete it to the allowed savings mount or less, will we then be entitled to receive the full aged pension?

Thank you
Vanessa

5 months ago

It is reported 75% of Australians over the age of 65 receive the full or part pension from the Government.

Compulsory superannuation was introduced into Australia in 1992 (26 years ago) for employees to have a percentage (now 9.5%) of their income invested into a superannuation fund to help fund their retirement years. The desired outcome was for people to be self-funded retirees as opposed to being reliant on government pensions.

The superannuation industry is a $2.6 trillion dollar industry with something like $26B of fees paid annually.

If after 26 years, 75% of Aussies over 65% are still reliant on the government it begs the following questions

1. Is the current superannuation policy working?
2. Who is really benefiting from the compulsory superannuation regulations?
3. Should superannuation be compulsory or voluntary?

We’d love to get your thoughts and opinions.

6 months ago
More