Australia is witnessing a historic shift as superannuation overtakes the Age Pension as the primary source of retirement income. Recent data shows the proportion of retirees living off super has jumped to nearly 30%. Humble Goode Financial, leading Adelaide financial advisors, explains what this move away from pension reliance means for your future and how to fund your modern retirement right now.
Read MoreTurning 55? See how your superannuation balance compares to the Australian average and determine if you're on track for a comfortable retirement. Learn about the ASFA's comfortable retirement standard and steps you can take to close any gaps in your savings.
Read MoreFind out what your superannuation balance should be at various ages to be on track for a comfortable retirement, based on the ASFA's Super Detective calculator. Learn what a "comfortable retirement" truly means and how to work out your own financial freedom number
Read MoreAre you on track for a comfortable retirement? Find out the average superannuation balance for Australians aged 50 and compare it to the ASFA's comfortable retirement standard. Learn how extra contributions and reviewing your fund can help you boost your superannuation savings.
Read MoreThe proposal to add superannuation contributions to the Commonwealth-funded Paid Parental Leave Scheme (PPL Scheme) has now been enacted. Superannuation contributions (called PPL Superannuation Contributions) will be payable in respect of 2025/26 and subsequent financial years at the rate of 12% (which will be the SG rate for 2025/26 and following financial years) of the total amount of eligible Parental Leave Paid during the financial year. After the close of the financial year, the ATO will pay the PPL Superannuation Contribution to the individual’s nominated super fund.
Read MoreHow do you start accessing your super funds when you stop working, or maybe even before you stop working? This covers the basics, including how to switch your super accumulation account to an account-based pension.
Read MoreReviewing your super is a small investment of time that can result in a large return. Superannuation is one of the most effective vehicles for Australian investors saving for their retirement. It has favourable tax rates, compulsory contributions going in from employers, and difficult conditions of release meaning no temptation to access it prior to retirement. If you’ve never reviewed your super, here are a few steps to get you started. Small changes can have a meaningful impact to your retirement outcomes in the future.
Read MoreUnlisted assets make up a growing and significant portion of many industry superfunds. AustralianSuper had 26.6% of their funds in unlisted assets at March 2022. Australian Retirement Trust’s Super Lifecycle investment strategy (Balanced) is 32.93% at June 2023. Nearly 50% of Hostplus’ Balanced MySuper option is in unlisted assets.
An aging population will drive policy decisions. New forecasts from the Australian Bureau of Statistics (ABS) highlight how quickly our population will age, and investors need to prepare now for the enormous changes that it will bring.
Read MoreA general rule of thumb is that when you retire, you will need about 2/3 of your current income to be able to comfortably make ends meet. Will your current super arrangements meet this requirement, or will you need to make extra payments or consider other investment options?
Read More