Michael’s son had his first day of school this year. In the week leading up to it, he was incredibly anxious about his first day – it was almost challenging to even get him into the car! But the afternoon told a different story, when he came home with a grin from ear to ear and spent the rest of the afternoon talking about how much fun school was. Life brings us many challenges – but Richie had conquered his fear.
In the previous podcast we discussed ‘bolting it all together’ while you are still working – meaning getting everything in order financially before you retire. We gave the example of a couple who earn $90,000 each in the final 10 years of their working lives, and their ability to claim $113, 505 in personal tax returns if they make voluntary super contributions in that time. If we subtract the 15% earnings tax from this, it would leave a benefit of $64,155. There are other benefits the couple could tap into while they are working, such as spouse contribution and government co-contribution. There are many small things you can do while you work to chip away at growing a larger amount of money for your retirement.
At Lighthouse Financial Advisers we help people over 50 retire with confidence.
Financial Advisers Dallas Davison and Michael Hogue join Kylie Hatfield and Ali Hogue in providing professional, friendly service in a relaxed and comfortable environment. Our approach to financial planning doesn't change if you were to live in a separate town to Townsville, such as Richmond, only the communication channel may change.
There was a lot of talk prior to the federal budget about potential changes to superannuation, however, superannuation was largely left as is during this year’s budget announcement in May 2015. This is an important time to think about your superannuation…How you can maximise your financial situation in light of current legislation…And how salary sacrifice to superannuation can build your retirement fund…After all, we all have things we want to tick off our bucket list…
Dallas Davison, Michael Hogue and Ali Hogue.