Is Superannuation critical to you being Financially Secure in Retirement?
Are you interested in reducing your Income Tax?
While we all know that we need to have our super working for us so we can continue our lifestyle when we are older, for some people this is overwhelming and confusing. Wise Advice are experts in ensuring you have a superannuation plan in place that is designed to provide you with the lifestyle that you are accustomed to in retirement.
We advise you with the best options to take when it comes to maximising your Tax Return and at the same time increase your future wealth. It is never too late to take control of your super, but the rules are complex. You need professional financial advice to ensure you make the most of your superannuation savings. Make it someone who has the Wisdom. Make it someone you can trust.
There are generous incentives given by the government for personal contributions to superannuation that work at reducing your Income Tax Rate. You could be eligible for benefits with your contributions to your spouse or life insurance. Let us make sure you are paying as little as possible while you work and have as much as possible to live the life you want to live.
There are ways you can leverage your personal super with your business. We know how to structure a company plan that deliver you savings now and increase your potential for future wealth.
According to the Association of Superannuation Funds of Australia (ASFA) an individual to have a modest retirement will need $595,000 at age 67*
To find out how to maximise your super, call 1800GOWISE – 02 9524 4224 or email us.
*https://www.superannuation.asn.au/resources/retirement-standard
Superannuation balances required to achieve a comfortable retirement:
Savings required for retirement at age 67
| Couple | Single |
|---|---|
| $690,000 | $595,000 |
Superannuation balances required to achieve a modest retirement:
Savings required for retirement at age 67
| Couple | Single |
|---|---|
| $100,000 | $100,000 |
All figures in today’s dollars using 2.75% AWE as a deflator and an assumed investment earning rate of 6 per cent. The fact that the same savings are required for both couples and singles reflects the impact of receiving the Age Pension.
Note: The lump sum estimates prepared by ASFA take into account the receipt of the Age Pension both immediately and into the future. The Age Pension is adjusted regularly by either the increase in the CPI or by a measure of wages growth, whichever is higher. The ASFA lump sum figures are therefore not updated quarterly.