In our modern world, advice firms are continually evolving their value proposition and service offer to meet the needs and wants of their clients. Over the last three years, portfolios have changed, their use of digital technology and their expectations from their financial adviser has evolved.
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 MoreIn 2023, central banks tightened policy severely, hoping their actions would return their economies to normal without causing a sharp recession in the process. We think policymakers will largely achieve their goals in 2024 and 2025, and we will let historians decide whether this was by luck or good judgment. We think labor markets, wage growth and inflation will return to somewhere near normal levels as a period of policy-induced weak growth rebalances labor markets and economies as a whole.
Read MoreFor those who have saved a healthy nest egg, retirement is a dream destination, one where you have loads of free time and zero responsibility.
Read MoreEvery transition in life is difficult. Humans are creatures of habit and we tend to find change challenging. Going from a regular paycheck to funding life from a portfolio is a night and day experience for many investors. It also changes the strategy and approach we take as investors.
Read MoreOne of the most significant features of account-based pensions is the ability to commute the pension, whether in full (also known as a 100% commutation) or in part (a partial commutation ie. less than 100%).
When planning for retirement the first step is to provide a cash reserve and the second step is to establish a secure income. A secure and stable income will provide you with peace of mind that you are able to cover your everyday living expenses.
Read MoreOne of the biggest challenges in investing is the transition into retirement. Walking away from your career requires confidence that you have enough savings to last for the rest of your life.
A new report suggests most Australians want to share their wealth with the next generation but are unsure of the best ways to do it.
Read MoreWe are in the opening stages of the largest intergenerational wealth transfer in history. An estimated $3.5 trillion of assets in Australia will be passed on prior to 2050. As it stands now, 21% of household wealth is held in superannuation. As contributions continue to rise superannuation will continue to be a significant stake of household wealth.
In a recent Private Binding Ruling the ATO was asked to consider the tax treatment of the death benefit where the death benefit was paid after the surviving spouse had passed.
Pension payments in super after the age of 60 are tax free and anyone over 65 can switch their super into a pension account even if they do not change their employment. Why do so many continue paying 15% tax?
Read MoreContribution caps apply to both concessional and non-concessional contributions.
Read MoreGenerally pensions cannot be commenced if the initial pension account balance is greater than $1.9m (the current transfer balance cap which applies from 1 July 2023).
Superannuation can be used to start an account based pension once a person retires (or meets another condition of release). This allows income to be received as a series of regular payments (usually monthly, quarterly, half yearly, or yearly).
Read MoreWhen a member of a superannuation fund passes away, any benefit they have within superannuation must be cashed as soon as practicable.
Read MoreUnlike standard retail and industry super funds, Super SA ‘Triple S’ offers some unique benefits for its members as a constitutionally protected super fund.
The cost of retirement has hit a record high, with couples needing more than $70,000 a year to fund a comfortable retirement, and $50,000 for singles, according to ASFA.
Read MoreA person who is eligible for Centrelink or Veterans’ Affairs (DVA) payments is expected to use their own financial resources to support themself so the ability to gift to others without an impact on entitlements may be limited.
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