February 04, 2024

Luke on 2CC – Misconceptions around pension payments

16 minutes

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired on Friday 2 February 2024 with Leon Delaney. Thanks for joining us on 2CC or your favourite podcast streaming service. This week’s show considers some of the common misconceptions people have around pension payments in retirement. Leon starts the show however by asking a question, what should you do if you won the $200 million Powerball?

Key topics covered include:

What is a pension from super?

Here are some pension payment misconceptions:

Can I go back to work if I start a pension from super?

Do I get a fortnightly payment?

When I start a pension, I need to cash out my investments into a bank account? No don’t!

Can I add money back into super if I’m not working? Yes you maybe able to, it’s got nothing to do with your employment status.

Can I add more money to my pension once I retire?

Do I pay tax on the sale of assets inside of a pension?

Luke shares his top tips around pension payments.

https://www.envisionfinancial.com.au/wp-content/uploads/2024/02/The-Strategy-Stacker-Luke-Talks-Money-02022024.mp3

Also available on Apple Podcasts and Spotify – ‘The Strategy Stacker – Luke Talks Money’

Are you thinking about your own retirement planning?

For retirees, having certainty around your income provides great piece of mind. Seek financial planning advice if you need help with your retirement planning.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement. Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.

Luke will return to 2CC to talk about other ‘Money Matters’ soon. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.

We look forward to your company again and Luke’s book Smart Money Strategy is out now.

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By Luke Smith