We often discuss owning the great companies of Australia and the world and how it benefits you in retirement. Today, we look at some things you can do while you are still working.
When it comes to your retirement, your finances and your business: no-one’s coming to your rescue. In other words, all of those things are your responsibility. That might sound depressing, but it could also be viewed in a positive light. Imagine the possibilities when all those things are in your control.
We recently wrote an article about ‘Your Perfect Retirement’ for the latest issue of Success Business magazine.
It’s a significant birthday but also culminates in a time where your earnings capacity is usually at it’s highest and your expenses are reducing in that your children have flown the coup (or are not far from doing so) and your mortgage is paid out or under control. Getting your ducks in a row from age 50 also gives you more time (eg. 15 years if retiring at age 65) when compared to leaving it later.
It’s that time of the year again, when we send off our tax information and pray to the accounting gods that we end up with some sort of a refund. It can sometimes seem as though the ATO picks a number out of the air when determining what sort of refund/payment we are eligible for, however it’s really a fairly simple equation:
Gross Income – Allowable Deductions = Taxable Income.
Dallas Davison, Michael Hogue and Ali Hogue.
Money Over 50 Financial Advisers
Tel 07 4772 0938
45 Ingham Road West End Townsville Qld 4810
Money Over 50 Financial Advisers Pty Ltd ABN 26 146 225 505, 45 Ingham Road, West End Queensland 4810 is the holder of an ASIC Australian Financial Services Licence (AFSL) #471826.
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