Inheritance tax: Is the tax office a beneficiary of your super?
Officially, it has been 40 years since Australia abolished the formal Inheritance Tax, or death tax. But we think that’s bunkum. There is tax payable on super when you die and leave your money to your adult children.
Fortunately, a rule change that came into effect in July can help. But only if you engage and act.
Economic update: Market ups and downs
The share market has started 2022 with a fizzle, falling more than 8%. It’s on the back of some concerning economic data. Inflation is higher than expected, which means interest rate increases this year now seem likely, and it appears omicron has dented business confidence.
So, what does this mean for retirees?
Spending in retirement
There are lots of uncertainties when it comes to retirement. While most Australians are working longer, we’re also living longer, so our retirement is longer. In fact, for some of us, retirement can span a period of 30 or 40 years.
A lot can happen in 40 years and it can be difficult to know how much we can afford to spend. How do we balance spending today, and still be responsible for the future?
Hope is not an investment strategy
With local and International share markets at record highs, now might be the time to check in on your investments.
Nothing to see: Making sense of the inflation spike
If you’ve been watching the financial news over the past week, you will know that Australia’s inflation rates have now peaked to a 13-year high.
What does that mean for retirees, and should we be doing anything to protect the purchasing power of our nest eggs?
This time its different
Retirees are right to be concerned about the economic impact of the lockdown in Greater Sydney. But that doesn’t necessarily mean we’ll see a repeat of the devastating market freefalls of March 2020.
Upsize your super with a downsizer contribution
Booming house prices in the Central West are presenting unique opportunities for retirees looking to cash in and boost their super.
This month’s Budget announcement that the home downsize provisions are being extended means that younger retirees can benefit with more tax-free super when they need it most.
Finding purpose beyond work
Talk to any super fund and they will say that anyone approaching retirement should boost their super balance, but in our experience, there’s more to a successful retirement than having lots of money saved up in your super account. And there are better ways for a pre-retiree to prepare than to just boost their super.
Wealth effect: Future’s so bright, I gotta wear shades
We have some good news. The International Monetary Fund (IMF) has upgraded its global growth forecasts for 2021 to record levels. This news, combined with rising share markets and booming local house prices, should have a positive impact on the confidence of retirees.