Is your will legal and does it reflect your wishes?
Retirement Essentials
by Drew Patchell
3d ago
Peace of mind is a cornerstone of a secure retirement. While many Australians prioritise financial security, ensuring your wishes are carried out after you’re gone is equally important.  This is where having a valid will comes in. Our recent July 2024 Retirement Pulse – Wills and your estate survey revealed some interesting insights on this topic. Over 88% of respondents believe it’s crucial to have a valid will. This aligns with the reality that a will allows you to dictate how your assets – from property and investments to personal belongings – are distributed after your passing. This ..read more
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How to achieve financial wellbeing
Retirement Essentials
by Kaye Fallick
3d ago
Being wealthy is very much in the eye of the beholder. While one person’s sense of wealth might come from their health, another’s could rest upon the strength of their relationships. Yet someone else might measure their wealth by the size of their super, particularly if they believe that this guarantees them choice and independence in later life. Of course no one point of view is right or wrong. Such judgements are entirely personal and may change over time. But financial wellbeing is something that can be defined in a way that enables us to measure whether we are likely to meet our needs and ..read more
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Who needs a million to retire?
Retirement Essentials
by Nicole Bell
3d ago
Here’s why most of us don’t Being told unrealistic targets is hardly likely to motivate anyone at any age. Yet this is often the case with retirement savings targets. Today we take a more realistic approach by using the factual ‘middle’ savings amounts for those about to retire, to demonstrate how quite modest savings can last the distance. Why is this important? The most commonly quoted targets for retirement spending and saving are those published quarterly by the Association of Super Funds Australia (ASFA). Much attention is paid to the so-called ‘comfortable’ amounts. The most recent targe ..read more
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A younger partner?
Retirement Essentials
by James Coyle
3d ago
Over the last few weeks we have received lots of comments and questions from customers wondering how their partner’s age and working arrangements can affect their entitlements. So this week we are going to answer some of those questions. I am 67 and retired but my partner is 60.  Can I apply for the age pension? The answer is yes.  Your combined assets and income will however be assessed as a couple.  If you are eligible you will receive half of the couple’s age pension entitlement.  When your partner reaches pension age he or she can apply and you will receive your full e ..read more
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Making the most of the 4th pillar – homeownership
Retirement Essentials
by Jeremy Duffield
1w ago
Keeping Retirement Simple – Part 9 If you’re fortunate enough to own your home – about 3 of 4 of our clients do – then you have a great opportunity to consider what role your house plays in your retirement plans.  For Australians overall, housing is their largest single source of wealth, well ahead of superannuation.  Some think of it as the “fourth pillar” of our retirement system…and there are a number of possibilities for using your housing asset to improve your retirement.   So, Principle #9 in our Keeping Retirement Simple series is: Think about your house as a part of ..read more
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Why super is great and how to make the most of yours
Retirement Essentials
by James Coyle
1w ago
Super often gets bad press. That might be from media pundits who expect rolled gold returns year in and year out despite market ups and downs. Or it could come from account holders themselves who find the need to understand the extensive rules very challenging. That’s understandable, but this is why it is useful to take a step back and consider the many aspects of the Australian superannuation system that make it the envy of most developed nations across the globe. Compulsory super was introduced by the Keating Government in 1992 with initial employer contributions of 3%.  Whilst some in ..read more
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Five biggest Age Pension mistakes and how to avoid them
Retirement Essentials
by Kaye Fallick
1w ago
When an entitlement such as the Age Pension has been in place for more than a century, it’s tempting to assume that the rules are well-known and easy to follow. Not so, unfortunately. Every day the Retirement Essentials Customer Services Team hears from retirees who either didn’t know about rules or didn’t thoroughly understand them, much to their financial detriment. As you know the team at Retirement Essentials is dedicated to helping to make things as easy as possible for those who are planning for or living in retirement. Today we share a summary of five aspects of Age Pension eligibility ..read more
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You can’t take it with you, but you can leave it behind
Retirement Essentials
by Jeremy Duffield
2w ago
Keeping Retirement Simple – Part 8 After the recent (disastrous for Biden) Trump-Biden debate, Poland’s top diplomat tweeted “It is important to manage our ride into the sunset.” And another commentator said, “We can’t beat Father Time; he’s never been defeated.”   Good reminders that we must plan for the inevitable, don’t you think? Given the financial implications for our loved ones, it is important for us all to plan out our estate. Principle #8 in our series is We all die at some point. Make sure your estate is ready. There are four particular topics to focus on: F ..read more
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Income and asset limits go up
Retirement Essentials
by James Coyle
2w ago
But how will this work for you? As you no doubt know the income and asset limits for full and part-Age Pensions were increased on 1 July this year. This is good news for many Australians who may have almost qualified for the Age Pension. It also means a slight increase in payments. This is because a ‘taper rate’ is applied to both income and assets over the threshold for a full Age Pension while still below the cut-off points. This makes it timely to step through an explanation of how taper rates work, so that you can ensure you are receiving your maximum possible income. What are taper rates ..read more
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Is inflation ruining your retirement?
Retirement Essentials
by Kaye Fallick
2w ago
If so, what can you do? The hottest topics in the news right now seem to be the twin challenges of cost-of-living and inflation. It’s not just a talking point either, with many elections occurring across the globe this year, data indicates that any government in power during a time of rising cost-of-living is likely to be removed at the ballot box. Interestingly, as we’ve reported, many of the pressures that are causing the current increased cost-of-living are external factors. But that’s not our topic today. What matters most to Australian retirees is how to best respond to challenging econom ..read more
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