This is the third in our trilogy examining superannuation throughout a working life. Having looked at those people starting out in their career and those in the middle decades of their career, let’s focus on people in the last ten to fifteen years of their working lives. People for whom the gold watch of retirement is coming into view.
Last week, we looked at why super is, well, super, even for people just starting out in their careers. This week, we take a look at superannuation for people a little further advanced in their careers. Let’s say people aged 30-55.
The financial year is almost over. Which, of course, means that the new financial year is about to start. This makes right now a great time to develop some better financial habits, so that your finances are fully charged come June 30 next year.
As the clock ticks down to the end of the financial year, there are two small superannuation strategies we wanted to remind you about. Neither will make you a millionaire, but good financial management is often a combination of many small, smart moves.
In our last article in May, we emphasized the need to get your super contributions in order before June 30. We discussed the ‘carry forward’ rules for non-concessional contributions. The feedback was excellent, so this week we want to talk about the ‘catch-up’ rules for concessional contributions.
Now that the election is (finally) behind us, it is time to remember that the end of the financial year is just around the corner. June 30 is a bit less than five weeks away. So, now is the time to make sure your super contributions are up to date.
Most parents worry about providing for their kids’ future. The specific way in which you save for your kids’ future might vary, but the essential principle is the same: the best way to help your kids is simply to maximise your own wealth.
We love reading those ‘Dear Abbey’ type letters to the newspaper. Especially the financial ones. Here is a classic we read recently – and what we would do if this were our client.
In years gone by, Federal Budget night could be relied on to pretty much re-write the rules on all things superannuation. Not so these days, with this year’s changes almost able to sneak past without anyone noticing.