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Superannuation & SMSF

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Should I pay off my home loan with my super lump sum?

If you’re nearing retirement and keen to be debt-free when you get there, you may be considering whether taking your super as a lump sum to pay off your home loan is a good decision.

It might be tempting, but it may not be the best option for everyone. For instance, you may be able to remove or considerably reduce your home loan debt, but depending on how you choose to go about doing this, it could impact the overall amount of money you have left to fund your... view article
May 16th 2022

Buying shares vs investing more into your super

There are multiple avenues to save and invest money. The money in your super is invested by your fund, in shares, on your behalf. So you may be wondering if it's worth buying shares outside of your super, or investing extra into your super.

While your superannuation is built mostly from compulsory employer contributions, you also have the option to make personal voluntary contributions. This is a great way to put your savings into an investment. Another option is to build your own share portfolio outside of your superannuation. Both options have advantages and disadvantages, so you will need... view article
September 10th 2021

A beginners’ guide: how to choose and tailor your super fund!

In this month’s edition of Ask an Adviser, we interview our Financial Adviser, David French to answer your top asked questions on how to choose and tailor your super fund for your best possible life in retirement.

For most people, superannuation (super) begins when you start work, and your employer pays money into a super account for you. The minimum employers are required to pay – the 'super guarantee' (SG) – currently sits at 10 per cent of your ordinary time earnings and will gradually rise over the years (i). Moreover, you... view article
July 21st 2021

New financial year, new super changes

As the new financial year gets underway, there are some big changes to superannuation that could add up to a welcome lift in your retirement savings.

Some, like the rise in the Superannuation Guarantee (SG), will happen automatically so you won’t need to lift a finger. Others, like higher contribution caps, may require some planning to get the full benefit. Whether you are just starting your super journey or close to retirement, a member of a big super fund or your... view article
July 9th 2021

Divorce and superannuation – how is it split?

What will happen to your superannuation following separation? How is superannuation division decided? How can you arrange to split super with your ex-partner? Find out more in this article.

  Divorce or separation is rarely easy. On top of emotional hardship, organising the logistics of financial separation can be confusing. It’s important during times like this to remember to be kind to yourself and seek help when you need it. In Australia, as many as 49,000 divorces are granted each year, and the median duration... view article
June 16th 2021

How much superannuation do you need for a comfortable retirement?

It's a question that will run through all of our minds. How much superannuation do we need for a comfortable retirement? In this article we look at two types of retirement lifestyle: modest and comfortable, and how much singles and couples need.

  How much do you need to live a comfortable retirement? It's a question that, at one point or another, we're all going to run through our minds. And the thing is, everyone's definition of comfort is going to be different. Where an inner-city apartment coupled with international travel every year is one person's dream... view article
June 10th 2021

Is salary sacrificing worth it?

The principle of ‘salary sacrificing’ may not sound very appealing but it can have some real financial benefits. So is it worth it? and how can you use it to get ahead?

What is salary sacrificing? A salary sacrifice arrangement is also commonly referred to as salary packaging or total remuneration packaging. In essence, a salary sacrifice arrangement is when you agree to receive less income before tax, in return for your employer providing you with benefits of similar value. You’re basically using your pre-tax salary to... view article
May 21st 2021

Why making additional super contributions can benefit you come tax time

Time is running out to make the most of your super for 2020-2021. Get in touch with your adviser ASAP if you are considering making additional contributions.

The end of the financial year marks the start of tax time but before then it’s beneficial to assess your super contributions in order to maximise your tax benefit and grow your super balance. We encourage you to make any additional contributions before June 10th to ensure your payment is received in time and your balance is... view article
May 11th 2021

Is an SMSF right for you?

As anyone who has joined the weekend crowd at Bunnings knows, Australians love DIY. And that same can-do spirit helps explain why 1.1 million Aussies choose to take control of their retirement savings with a self-managed superannuation fund (SMSF).

As well as control, investment choice is a key reason for having an SMSF. As an example, these are the only type of super fund that allows you to invest in direct property, including your small business premises. Other reasons people give are dissatisfaction with their existing fund, more flexibility to manage tax and greater... view article
February 26th 2021

How much does a single person need to retire?

Did you know over the last decade there has been a rise in Australians living and retiring solo? So, you’re not alone! Financially it can be harder for singles in retirement compared to couples, and many people do wonder how much does a single person need to retire?

With divorce rates highest amongst those nearing retirement (eg. aged 50 ) as reported by the Australian Bureau of Statistics, this is a key reason for why more Australians are entering retirement single. There are of course many other reasons you may find yourself retiring single such as from separation, a partner passing or simply... view article
November 20th 2020

Boosting Your Super After Accessing 10k Withdrawal

If you were one of the many who accessed the governments early super release program after being financially impacted by COVID-19 you may want to consider ways to boost your super to ensure your retirement savings goals remain on track.

Impact of Dip or Early Withdrawal Over 1.8 million Australians have withdrawn a total of $13.5 billion from their super accounts to support them during these uncertain times. The early withdrawal scheme was available for those financially impacted by COVID-19 giving them the ability to access up to $10,000 in the 19-20 financial year and... view article
September 3rd 2020

Should I take money out of my super fund early?

Temporary early release of superannuation: who is eligible, should I use this option, how will it impact me later on?

Many Australians are facing difficult financial problems as a result of the social distancing policies associated with Coronavirus. Lost or reduced income often results in shortfalls each month and can lead to extreme financial hardship. One option on the table to support people through this is taking up to $10,000 from your Super fund... view article
April 6th 2020

My Superannuation balance is falling… What should I do?

As the world deals with Coronavirus, international economies have been hit hard. Uncertainty has created market volatility at an extraordinary pace, leaving Aussies extremely worried about the impact on their superannuation.

So what’s actually happening? How should you react to the falls? Key points: Recent market volatility has led to a drop in superannuation balances. The falls in the past 30 days have been substantial in response to the evolving threat of the virus. Share market falls are normal. By reacting to this volatility now this... view article
April 2nd 2020

Can you do more with your super?

A little effort and clarity can go a long way when it comes to your superannuation.

Superannuation can be confusing. You can end up with more than one. It usually holds valuable insurance policies. There are choices about which fund to chose and which risk profile to set. Often, unless retirement is quickly approaching, we don't put much thought, time or effort into considering these variables. But trust us, a... view article
February 12th 2020

Why is my fund under-performing?

Defining performance and managing expectations is all part of investing. Is it worth all the risk? What is the right time-frame? What fees are involved? We explore these questions and more.

When we carve out hard-earned dollars and squirrel them away in an investment, whether it be in Super or not, it can be worrying if we think our choice is not performing well against others. No one wants to think they made a mistake in their investment selection. It’s natural to want to make... view article
November 8th 2019

Understanding the ins and outs of the new Protecting Your Super package.

The federal government has introduced new laws for protecting your superannuation from becoming eroded in accounts that aren’t being used. Here we look at the ins and outs of the ATO’s new Protecting Your Super Package.

The ins and outs of the Protecting Your Super package This year, the federal government introduced laws called the Protecting Your Super package. It’s a big deal because it addresses important changes to superannuation that are here to stay. In fact, there’s even been an industry-wide campaign about how it’s time to check your super. The... view article
August 29th 2019

A millennial’s primer to all things superannuation

It’s never too early to start thinking about your Super – here are the basics of Australian superannuation.

  Over the past decade, Australian millennials like yourself have been getting involved with superannuation. From 2007 to 2017, millennials' share of super fund balances doubled from 6.4 per cent to 14.6 per cent, according to Roy Morgan. That said, McCrindle reports that millennials account for over one-third of the Australian workforce - so there's... view article
July 15th 2019

When can I access my super?

Depending on how much you have in super, it’s worth considering any implications of withdrawing this money, such as how the money may be taxed, and whether a withdrawal may affect Centrelink payments, such as the Age Pension.

  Superannuation is generally intended to help fund your retirement, but there are instances where you may also be able to withdraw your super savings early, depending on your situation. Here is a high-level summary as to when super may be accessible to you.   Understand how your decisions and actions today may affect your financial security tomorrow.... view article
July 5th 2019

Protecting your Super and Insurance, what does it mean?

Recently, the Federal Government introduced the Protecting Your Super package. The intent behind the legislation is to ensure that the premiums for insurance policies inside super don’t erode the balance of inactive accounts. With the automation of closing Insurance accounts for those inactive accounts, many Australians could find themselves under-insured.

If you hold a Superanuation account that has been inactive (not received any contributions for 16 months or more) and you have not already notified your Super Fund that you wish to retain your insurance, it could be cancelled from 1 July 2019. If you have already taken action, or you are certain that you... view article
June 11th 2019

Super funds – how do I pick the right one?

How much do super funds vary and what should you do about it? What does a 'balanced' investment mean? Why does it matter?

Balanced, growth and performance If you are taking the time to consider which superfund is best for you, it is more than likely you will try to compare the short, mid and long-term performance of your current fund against others to see how they have gone. You will probably assume that if you compare the... view article
March 26th 2019

Is it too late to grow my super?

Take a look at how your super balance compares to others, how much you'll need for a comfortable retirement and what you can do to maximise your financial potential.

Almost a third of Australian pre-retirees don't feel confident they'll be in a comfortable financial position by the time they retire, according to Australian Unity. If the same applies to you, you're probably wondering what can be done now to ensure your retirement is stress-free. We spoke to Invest Blue Financial Planner Chris Ogilvie about... view article
March 20th 2019

Breaking your super down into the basics in 2019

Have you thought about what's happening with your superannuation? What do you need to know about your super? Here are some basics of the current super legislation that you should know.

In Australia, it is a legal requirement for employers to contribute to their employees super on top of their salaries. The minimum employers are required to pay is called the super guarantee (SG) and currently sits at 9.5 per cent of your ordinary time earnings. While these contributions are managed for you, what do you... view article
February 21st 2019
Money is different for each and every one of us. From income, spending and simple saving, to investing and superannuation, no two people are the same. We are all motivated by different things and have different approaches to money. Sometimes it can be hard to assess whether you're on track to achieving your dreams. How... view article
March 21st 2018

Superannuation vs Mortgage

Is boosting your super or paying off a home loan more important?

It's an age-old question for anyone who is financially planning for the future: should I pay down my debts or add to my savings? When you're choosing between paying off a mortgage and boosting your super, the stakes are even higher. Throw in the fact that you may be currently setting up for retirement (as... view article
September 19th 2017

Superannuation for Gen Y

4 things Gen Y often don't know about their superannuation

Research shows that 40 per cent of young Australians don't know how much money they have in their super, while 16 percent only have a vague idea. Retirement can seem a long way off for young Australians, which is why it's understandable that many feel they can delay planning for their golden years. Figures from the... view article
June 1st 2017

Are SMSFs suitable for everyone?

The average profile of an SMSF member in 2017 is dramatically different from the stereotype that has arisen over the years.

The average SMSF member in 2017 is a different kettle of fish to the stereotype you may have conjured up in your mind. Australian Taxation Office figures show approximately 1.1 million people in the country now run their own fund. But if you're imagining a wealthy, experienced and financially savvy investor, you may be surprised... view article
May 17th 2017
How much control do you have over your retirement planning? For more than one million Australians, the answer to this is "a lot". That's because they are members of self-managed super funds (SMSFs), pooling their superannuation together with others and (with the help of a financial adviser or fund manager), investing in assets of... view article
March 30th 2017

Make the most of the current super caps

Consider John and Jane’s story before new rules limit your super contributions and pension transfer options.

John’s aged 65 and Jane is 60—they’re both about to retire. John has super assets totalling $2 million and Jane’s super balance is $300,000. Because neither has made a non-concessional contribution (NCC) recently, the three-year bring-forward rule hasn’t yet been triggered. That means John and Jane have a chance to take advantage of the currently... view article
March 21st 2017