March 25, 2024

Luke on 2CC – Why put money in super and not leave it in your bank account?

18 minutes

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired on Friday 23 March 2024 with Leon Delaney. This week’s show considers contributing to super. Why would you put money into your super and not leave it in your bank account? The show encourages listeners to think about the benefits of super contributions including tax benefits and increased retirement savings. Thanks for joining us on 2CC or your favourite podcast streaming service.

Key topics covered include:

Many people don’t think about the structures that they use to save and invest.

Super is a great long-term vehicle, and a tax efficient vehicle too.

Why are you adding to super? It’s an important question. Are you lowering tax now, or working towards a longer term retirement goal?

Did you know you can hold investment property inside super? There are capital gains tax benefits for retirees when compared with an investment property outside of super.

How do estate planning considerations work in super? A spouse is always considered a dependent inside super and a binding nomination can’t be challenged like a will.

While super is useful, there are some reasons to keep the money in the bank too. Those reasons may be more advantageous for your goals.

Do a little something a little sooner, because despite what you might think you might not be able to contribute lots of money when you’re near retirement. Think about how super fits with your short and long-term financial planning.

Luke shares his top tips when thinking about contributing to super funds as well as the pro’s and cons of keeping it in the bank.

https://www.envisionfinancial.com.au/wp-content/uploads/2024/03/The-Strategy-Stacker-Luke-Talks-Money-23032024.mp3

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

Are you making the most of your superannuation right now?

Should you put money into super or keep it in your bank account? If you need financial planning advice to help you work on your short and long-term goals, make an appointment to meet with Luke.

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