Ensuring your affairs are in order before your passing is an integral part of estate planning. There are several types of super death benefit nominations, for example a non-binding nomination and a binding nomination. These two types of nominations can be used in both the retirement phase and the accumulation phase. However, there is another type of nomination, a reversionary nomination, which is available on income streams.
Following on from last month's blog, see part two of the two part series.
Leading up to the 2019 festive, a number of Bills passed the parliamentary process and became Acts (legislation).
The Government's Age Pension remains a vital source of income for many older Australian's in retirement. There are many rules that need to be met by older Australians to qualify to receive the Age Pension, in part or full.
In our article, ‘Ageing and health status in retirement: The three chapters’, we discussed the different chapters that you will experience as you make your way through life.
Think a mini-retirement sounds like a pipe-dream? If you daydream about having the time and energy to get through your bucket list while you’re still young, it could be time for the blue-sky thinking and practical planning that can make it happen.
Embracing change can be hard, which is certainly true when it comes to downsizing your home. One of the best things you can do to support your parents who are facing this situtation, is to provide relevant information so your parents can make an informed choices about appropriate housing decisions. Most importantly, you need to be empathetic and really listen to their conerns.
For older Australians looking to make the most of their finances in retirement, deeming rates can be an important factor in their income situation.
Does investing in a financial planner really pay off? According to the latest research from Sunsuper you could be thousands of dollars better off when you make choices based on professional financial advice.
Have you ever wondered how Australia ranks against other countries in terms of retirement wellbeing and security?
When you leave work for good and retire, where will your money come from?
So what is the differences between 'general' and 'personal' advice? There is confusion in the marketplace according to a recent ASIC research report.
Just as having a Will ensures assets are managed properly when you die, a Power of Attorney allows someone else to look after your finances when you’re unable to.
It's impossible to know for sure exactly how much money you need for retirement. There are simply too many variables that we either can’t control or can’t predict with any certainty. Such variables might include your health, your family situation, and legislative changes.
In a nutshell, the financial lifecycle is a model that provides a simplistic framework upon which to better understand the path you travel during your life. Namely, your progression from financial dependence to independence with regards to wealth accumulation and cashflow generation.