Retirement Planning

Couple Walking Along BeachWith the average Australian now spending in excess of 20 years in retirement, it’s vital that you consult a retirement planning adviser.
When it comes to your super, you generally have two options; you can take the money as a cash lump sum and invest it elsewhere, or keep it in super by rolling over to an income stream investment, like an account-based pension.
Income stream investments are very tax-effective for the following reasons:

  • No tax is payable on earnings within the fund.
  • If you start an income stream between the ages of 55 and 59, the taxable income payments you receive will attract a pension offset, which may enable you to receive thousands of dollars a year tax-free.
  • At age 60, you can receive tax-free income stream payments and you don’t have to include these amounts on your annual tax return. This could reduce the tax payable on your non-super investments.

Being governed and legislated allows us to identify more benefits to utilising your superannuation for you. If you are 55 we are able to begin restructuring your super and have you contributing more, saving tax and growing your wealth through pensions and other tax free vehicles whilst living on the same net income.
Your superannuation fund is also able to hold your insurance policies and pay the premiums for you. This is a cost effective protection strategy enabling you to continue to build tax effective growth and staying protected without breaking the budget.

For more information on how our retirement planning advisers can help you contact us today.