Superannuation

Can the "bank of mum and dad" affect your retirement?

According to the Grattan Institute, it takes a decade to save for a 20% deposit for an average home compared to six years back in the early 1990s. And these savings may still not be enough to secure your first home. So, it's no wonder 'kidults' are now turning to parents or even grandparents for help. The bank of mum and dad ...

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Advice worth more than it costs

A young family could be $240,000 better off at retirement if they receive financial advice, according to Sunsuper. Sunsuper commissioned CoreData for its 'Value of Advice Report' that found that a 34-year-old Australian couple who received advice could maximise their money to pay for six additional years of private education for two ...

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The impact of super changes on estate plans

The introduction of the $1.6 million transfer balance cap will affect the insurance and estate plans of many superannuation members. In my last article, I discussed why members must review any insurance they hold in super. Additionally, the transfer balance cap places a limit on the amount that can be paid as a death benefit pension and any e...

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Five urban myths about super changes

Much of the conversation about the superannuation reforms relates to reducing pension balances to a person's transfer balance cap, resetting the Capital Gains Tax (CGT) cost base for investments and making last minute contributions before the caps drop on 1 July 2017. This article covers a few urban myths that have developed among some trust...

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