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Retirement Planning – we’re here to help

[Music] for some people approaching retirement can feel a bit daunting especially if the timing is not of your choosing or if you don't feel you have sufficient assets and income to achieve the retirement goals you once had we understand that making sense of all of the information can be quite overwhelming but did you know that as part of your C bus membership you have access to our team of advisors these advisors can provide you with advice and information over the phone about a range of super related questions such as what level of retirement income could you expect to receive will the super income stream work for you what is an appropriate investment option for your super or super income stream account are there strategies that can improve your financial position by the prior to retirement or once retired well how can your super or super income stream complement the government age pension if you have any questions or want to better understand how your super works please give our friendly advice Services team a call we're here to help you for one three hundred three six one seven eight for now we also present regular retirement planning seminars throughout Australia which can be a great source of further information just visit Seba super calm dot au for more info on the location of the seminars and hey can register to attend

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Why transition to retirement (TTR) pension strategies are so lucrative | Superannuation in Australia

Did you understand that you can boost your extremely
and reduce your tax obligation without it influencing your take residence pay? I’m mosting likely to educate you exactly how you can grow
your incredibly balance by over $17,000 dollars without needing to put a single extra cent
into your incredibly. You people wanted a lot more videos on superannuation
as well as child do I have one for you. I have actually been working in tax obligation and super for the
last one decade and I’ve gone with a great deal of superannuation approaches on my channel. But this … this is the closest point to cost-free
cash that I’ve ever experienced. Seems like a scam! It’s not a rip-off. It is complicated, so I’m going to get hold of
my whiteboard. Imagine this is you, as well as this is a bank, there’s.
an unique promotion taking place where the financial institution says: ‘Hey, for each $100 you deposit,.
I will give you a cost-free bar of delicious chocolate.’ What you do of training course is you deposit $100,.
and also you obtain your totally free chocolate, and afterwards you take out $100 from the bank and after that you.
deposit $100 again. And you get even more totally free chocolate. Withdraw, deposit, chocolate.Withdraw, deposit, chocolate. Currently naturally, this bank does not exist. As well as no bank would be foolish enough to use. this offer. Let’s see what the government will certainly enable. you to do with your very fund.
Due to the fact that the federal government wishes to urge. you to conserve for your retirement, they claim:
‘ hey, if you put cash into your very,. you can pay in between 19.5 %to 32% much less tax obligation.’ This is the totally free delicious chocolate, as well as you can enjoy. any of these video clips to comprehend how to get your totally free chocolate.But currently your cash remains in your extremely fund as well as. you can’t withdraw it until you retire, best? Well there just takes place to be an exception. to this regulation. You can in fact withdraw cash from your. fund (without paying any type of taxes or charges )by starting a change to retirement (or. TTR) pension plan account if you’re in between 60 as well as 65 years old. Now prior to all you millennials click off this. video clip. Think regarding this momentarily. Just how old is your mum, papa, uncles, aunties? Why don’t
you do something wonderful for them. by teaching them this method? They did increase you. So the technique is easy. You start a TTR pension account. You then put cash right into your extremely and get. a tax obligation benefit. Then you withdraw cash from your extremely so.
that your take-home pay at the end of the day is specifically the very same.
And also do you understand what happens to the tax that. It’s sitting right there in your incredibly account. Your extremely equilibrium
has grown expanded.
suggestions. Today, you get to have this information. for the low, affordable of: pressing the like switch. Let’s have a look at an instance to see just how. everything operate in method. My uncle Bartholomew is 60 years old, gains.
$ 60,000 dollars a year, and also has$ 175,000 in his incredibly. He needs to pay$ 11,167 in income tax obligation so his. after-tax take residence pay would be$ 48,833 under normal condition, allow’s call this
scenario. A.In situation B, he starts a TTR pension with. $170,000 bucks and also leaves$ 5,000 bucks in his build-up account. Let’s claim he salary sacrifices$ 21,200 right into. his extremely fund. This reduces his gross income to$ 38,800,. so he only needs to pay $4,690 in tax
, which is a conserving of $6,477.

The quantity remaining after-tax is$ 34,110. Uncle Bartholomew withdraws$ 14,723 from.
very balance. For these calculation, I’ve assumed that.
his super fund returns 4.5% percent but the rate of return hardly impacts the contrast. at all.In Scenario A, he begins with$ 175,000,. get paid 10.5% superannuation warranty from his employer, and his incredibly makes him some.
cash. He needs to pays 15% percent tax on his incredibly. assurance as well as his fund earnings.
After 1 year, his very balance is $187,313. In situation B, his buildup account begins. off with$ 5,000 dollars in it, and he receives 10.5% superannuation guarantee from his employer. The $21,200 that he wage compromised ends. up in this account. The account makes a little bit of money as well as.
After 1 year, his buildup account has. His TTR pension starts off with$ 170,000 dollars. After 1 year, his TTR account has$ 161,666.
Uncle Bartholomew’s complete extremely equilibrium. The end outcome is that his super equilibrium amazingly. If Uncle Bartholomew does this every year.
Check out my video clip on salary sacrifice to. Depending on your financial circumstance,.
As an example, if you have$ 1.5

million bucks. in your extremely fund, it might be much better for you to miss the entire transition-to-retirement.
stage as well as simply retire. With a large enough incredibly balance, commencing. an account-based pension plan asap might be an even much better method due to the fact that incomes.
from account-based pension plans are completely free of tax as opposed to being exhausted at 15% percent.
You can watch my video on account-based pension plans,. connected in the description, for more information. To be entirely truthful, when TTR pensions.
TTR pension plans allow individuals to decrease their. Not every little thing is regarding money? My auntie Helen is 60 years old and also functions.
to reduce to working 4 days a week.

But this would certainly minimize her salary to$ 40,000.
This is only $674 per week. Well the service is just to start a TTR. Her earnings would be back up to$ 42,283 and.
she would have the ability to take pleasure in all the way of living benefits related to a four-day job week. and slowly relieving right into retirement.The major downside of making use of TTR
pensions in. in this manner is that it will reduce the amount of incredibly that Auntie Helen will certainly have when.
she actually retires.

If you’re not coming close to retired life and.
do not have an Uncle like Bartholomew or an Auntie like Helen, do not fret. There’s a lot of various other
superannuation methods. that will conserve you a bucketload of money.
In this video I have put with each other a list. of things that you can do every year to take benefit of Australia’s superannuation. system. See to it you examine it out.

You after that put money into your super and get. You withdraw cash from your extremely so.
$ 60,000 dollars a year, and also has$ 175,000 in his super. He has to pays 15% percent tax on his super. After 1 year, his super balance is $187,313.

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Retirement Planning Webinar – 28 March 2022 | Australian Catholic Superannuation

I ' m not suggesting I won ' t but I ' m I ' m leaning on the side of probably not. I should likewise say as well as we progress via this there ' s there is a lot of people going to but we would like to make sure that you get the information that you desire out of tonight ' s session.So if you ' ve got an inquiry please make sure that you post it through the the questions and also solutions tab on the on the leading well mine ' s on the left hand side the Q&A ah speech bubble. It ' s additionally assuming you ' ve paid off your home mortgage Uh so there ' s no home loan repayments as well as there ' s no rental fee consisted of in these costs.

I ' m not suggesting I won ' t however I ' m I ' m leaning on the side of probably not. Um I must also claim as well as we advance via this there ' s there is a lot of individuals attending yet we would certainly like to make certain that you get the details that you desire out of tonight ' s session.So if you ' ve got a concern please make sure that you upload it via the the inquiries as well as responses tab on the on the top well mine ' s on the left hand side the Q&A ah speech bubble. It ' s additionally assuming you ' ve paid off your home loan Uh so there ' s no mortgage repayments as well as there ' s no rental fee consisted of in these expenses. We put on ' t actually drove down right into the spending plan unless something looks a little bit askance We can in fact then say okay what do you require to live on as well as work backwards if that ' s your choice or we could look at what you ' re earning as well as does that accumulate or does does your money equilibrium go down? We ' ve clearly got the the big spending plan news tomorrow evening as well as after that it ' ll be extremely fascinating to see what ' s comes out of that a whole lot of murmurs and also rumours as well as and news write-ups going around I presume forecasting what ' s going to come out in the budget.Um it ' s a really flexible item since you ' ve got an option of payment frequency and once again those tax totally free income profits building or making your retirement savings last longer.So we ' ll go right into those particular choices after that. If we have an appearance at the alternatives, so when we ' ve obtained superannuation account and certainly, we ' ve reviewed the various types of contribution choices that are available there.We we most likely didn ' t mention that the government ' s co-contribution is one more one that can go in there. Um so you kind of it it ' s it ' s a lot better it ' s much better than what people think it is.

however Sonia, I assume a whole lot of people probably aren'' t mindful of the carry ahead

rule.Oh, I have had so much usage out of this rule and excuse me if I get a bit fired up concerning it yet it'' s it ' s a a back rule that allows us to go back to two thousand as well as nineteen and see if there was any space under the cap. Um yet I think there'' s a there ' s a whole lot of approaches I expect. Um it ' s an extremely flexible product since you ' ve obtained a choice of settlement regularity and once more those tax free revenue revenues structure or making your retirement financial savings last longer.So we ' ll go right into those certain options then. If we have a look at the options, so once we ' ve obtained superannuation account and undoubtedly, we ' ve went over the various types of payment options that are offered there.We we probably didn ' t reference that the government ' s co-contribution is another one that can go in there. Um so you kind of it it ' s it ' s a lot better it ' s much far better than what people assume it is.At any kind of factor we can assist assess people ' s qualification to conserve them the trouble of filling up in documents needlessly or to provide them comfort that indeed that ' s a great thing to do.And I ' m just going to bring up the pair ' s screen for you Sonia to to go through some of those limits. Um so fine allow ' s presume that you ' ve you ' ve gone with the age pension plan circumstance you ' ve applied for that. There ' s what ' s called a non-binding beneficiary nomination which is essentially you ' re supplying the superannuation fund with guidance as to where you would certainly such as the cash to go to yet it isn ' t bonding on the fund.

At any type of factor we can assist assess people ' s eligibility to conserve them the trouble of loading in paperwork needlessly or to provide them comfort that yes that ' s an excellent thing to do.And I ' m simply going to bring up the couple ' s display for you Sonia to to go via some of those limits. We ' re very careful to have an appearance at individuals ' s pension plans the where they ' ve been in existence for a while. Um so fine let ' s think that you ' ve you ' ve gone via the age pension circumstance you ' ve used for that. There ' s what ' s called a non-binding beneficiary nomination which is essentially you ' re supplying the superannuation fund with assistance as to where you would like the cash to go to yet it isn ' t bonding on the fund. Appropriate and also the excellent news is that if your ah beneficiaries aren ' t changing and you ' re coming up to the three year expiry date we now have a a form that making the process easy simply to freshen that nomination.Doesn ' t need witnessing.There'' s a couple of things that I ' d love for everyone that ' s on this call with us today to to do. Uh it ' s just a couple of hours of your time as well as if we can ' t aid you we ' ll be straightforward or if we assume you understand come back in a year or 2 would certainly be much better. Uh so you need to meet a problem of launch and that has to be sustained with a legal declaration which is either that you ' ve stopped a lucrative work setup when you ' re over 60 or or that you at that point in time wear ' t intend to ever before work 10 hours or even more again per week.

There'' s a couple of points that I ' d love for everyone that ' s on this call with us today to to do. Uh it ' s just a pair of hours of your time as well as if we can ' t help you we ' ll be truthful or if we think you recognize come back in a year or two would be better. Uh so you require to meet a condition of release and also that has to be sustained with a legal statement which is either that you ' ve ceased a rewarding employment plan when you ' re over 60 or or that you at that factor in time don ' t plan to ever before function 10 hrs or even more again per week. I have to confess I ' m a little bit old college in that relates to however I do like being able to read individuals ' s body language and and those sorts of points and I believe it it does provide a good chance to simply I presume scale a person ' s comprehending and passion and also and as well as dive a little bit additional however all choices are essentially on the table. Please be aware that we will undoubtedly be in touch with you if you ' ve asked an inquiry and also we haven ' t answered it as well as they asked them there are some excellent questions on there.

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