Single Touch Payroll (STP), is an Australian Government initiative to reduce employers' reporting burdens to…
According to the Financial Services Council, Australians are confronted with an astounding shortfall in the amount of superannuation required, to the tune of approximately a trillion dollars. This includes an alarming average gap of nearly $500,000 for people aged between 40 and 55.
If you’re in your 40s or early 50s what does this mean for you? How did you want to retire and is it time to seek a financial adviser before it is too late?
When sitting down with your financial planner, you should review the following areas:
- Your willingness to take risks,
- Your age,
- The time before you can withdraw the funds
- Your goals and objectives.
If you haven’t thought about what your superannuation or investment should do for you, here’s a guide:
- It should provide an acceptable return, whilst the fluctuations in the balance should not be distressing to you.
- Deliver long term returns, higher than inflation, despite fluctuations in the market;
- Offers a rising, tax-efficient income flow.
How do you picture your retirement? Do you want to retire on the beaches of Rosebud or the beaches of The Maldives? We can’t control the past but we can make a difference to the future. Make an appointment to see one of our financial planners here.
This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement.