Retirement Strategies

Don’t put all your eggs in the one basket. Us planners use the word diversification to explain this concept.

Whilst cash transactions may soon be a thing of the past, the old saying cash is king hasn’t gone anywhere. Cash reserves and cashflow are front of mind for us planners when reviewing our client’s investment plans and portfolio’s.

You may have parents who live on their own but because of failing health they need support to help care for themselves or it may be that they cannot look after themselves anymore and need to move to a home that can.

Want to help boost your retirement savings while potentially saving on tax? Here are five smart super strategies to consider before the end of the financial year.

If you have not fully used your concessional cap in a prior financial year, you may be eligible to use these unused carried forward amounts in a later year.

If your income is under a certain threshold, then making personal after-tax super contributions could enable you to qualify for a Government co‑contribution and take advantage of the low tax rate payable in super on investment earnings..

Contributing some of your pre-tax salary, wages or a bonus into super could help you to reduce your tax and invest more for your retirement.

Splitting super contributions to your spouse’s super account may help to boost their retirement savings and provide a range of other benefits.