Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021 has finally passed as at 10th February 2022.  In this episode Rob discusses the changes and potential opportunities, particularly for older Australians.

The purpose of this podcast is to provide general information only and the contents of this podcast do not purport to provide personal financial advice. We strongly recommend that investors consult a financial adviser prior to making any investment decision.

The contents of the podcast episode do not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making any financial or other decisions.

The information is selective and may not be complete or accurate for your particular purposes and should not be construed as a recommendation to invest in any particular product, investment or security. The information provided on this podcast is given in good faith and is believed to be accurate at the time of compilation.

Is there a death tax in Australia?  Well sort of.  In this episode, Rob discusses superannuation death benefits and taxation for non-dependents.

The purpose of this podcast is to provide general information only and the contents of this podcast do not purport to provide personal financial advice. We strongly recommend that investors consult a financial adviser prior to making any investment decision.

The contents of the podcast episode do not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making any financial or other decisions.

The information is selective and may not be complete or accurate for your particular purposes and should not be construed as a recommendation to invest in any particular product, investment or security. The information provided on this podcast is given in good faith and is believed to be accurate at the time of compilation.

Who gets your superannuation when you die? A guide to death benefit nominations.

The purpose of this podcast is to provide general information only and the contents of this podcast do not purport to provide personal financial advice. We strongly recommend that investors consult a financial adviser prior to making any investment decision.

The contents of the podcast episode do not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making any financial or other decisions.

The information is selective and may not be complete or accurate for your particular purposes and should not be construed as a recommendation to invest in any particular product, investment or security. The information provided on this podcast is given in good faith and is believed to be accurate at the time of compilation.

Retirement is a number, but it’s not an age. Going back to the last two episodes, know how much income you need for your lifestyle, then estimate the savings needed for your income. Now if there is a gap, and there often is, what can you do about it?

*UPDATE* Since this episode was recorded the contribution caps increased on July 1 2021 for the first time since 2017.  The indexation of the contribution caps will see the standard concessional cap increase to $27,500 and the general non-concessional cap increase to $110,000, with the potential for some clients to bring forward up to three years worth of NCCs ($330,000).

There has been a bit of a myth getting around for years that you need a million dollars in your super fund to have a comfortable retirement. The million-dollar retirement myth.

According to the Australian Superannuation Fund Association’s Retirement Standard, to enjoy a comfortable retirement, singles need $545,000 in savings at retirement (aged 65) to generate a yearly income of $43,901. Similarly, couples need $640,000 at retirement to generate $62,083 a year. These figures assume retirees own their own homes and don’t need to pay rent or make mortgage payments.

Welcome to Retirement and Money!

My name is Rob Laurie and I am the presenter, and a financial adviser and retirement expert by day, who helps pre-retirees navigate the bumpy waters of planning their retirements, and retirees to worry less about their money.

In this weekly podcast, I will cover these sorts of topics in easy-to-understand terms, keeping jargon to a minimum.  If I can help one person feel more in control of their money and retirement, I will feel content that this podcast was worth doing.

I want to help more people take control of their money, and ensure they live the retirement of their dreams, whatever that looks like to them.

To end on a quote as old as me “You can’t go back and make a new start, but you can start right now and make a brand new ending.”