AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Byond super12/3/2023 The information is not intended to constitute financial product advice – general or personal advice. The information contained in this site is provided to help members understand their superannuation entitlements in Qantas Super. Visit for ratings information and to access the full report. SuperRatings uses objective criteria and receives a fee for publishing awards. Ratings are subject to change without notice and SuperRatings assumes no obligation to update. Past performance information is not indicative of future performance. The rating is not a recommendation to purchase, sell or hold any product. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. Ratings are general advice only and have been prepared without taking account of your objectives, financial situation or needs and are only one factor to be taken into account when deciding whether to invest in a financial product. The 2023 ratings are issued by SuperRatings Pty Ltd ABN 95 100 192 283 AFSL 311880 (SuperRatings). We can put you in touch with financial advisers familiar with Qantas Super to help Given the complexities involved, expert advice is key for estate planning. Though a will may specify who gets what, the goal of estate planning for many people is to ensure their assets are passed on to the right people in the most beneficial and tax-efficient way.įor example, this may involve considering whether a loved one’s eligibility for certain government benefits will be affected, or whether their tax situation will change significantly, based on their inheritance of an asset or even when they receive it.Įstate planning also considers who will be put in charge of your affairs and make decisions for you in the event that you lose your ability to make decisions. Put simply, estate planning means planning for what happens to your various assets after you die. Just like it’s not too early to start thinking about super when you’re kicking off your career in your early 20s, it’s never too early to start thinking about estate planning as you get closer to retirement. If selling your home, you can also explore a downsizer contribution to your super. However, the proceeds are ‘deemed’ in the income test this means they’ll be assessed as income from financial assets. If you decide to sell, the proceeds are exempt for up to 12 months if you plan to use them to buy, build, or renovate another home. For example, your home isn’t included in the assets test if you live in it, but selling it may change things. ![]() Meanwhile, if you own a home and know you will be looking to access the Age Pension in retirement, you may want to think about how your home will affect your eligibility. If you will be renting in retirement, or think you may eventually look into aged care, for example, you need to factor this into your retirement budget. The answer to the question of where you want to live will likely have an impact on your financial situation. Is the house you bought and finally paid off your forever home, or are you planning to sell up and make a sea (or tree) change? Will you be renting in retirement? Will you have a need for aged care? Accordingly, your home needs to factor into your retirement planning in a variety of ways.įirst and foremost, it’s important to simply think about where and how you want to live when you retire. Super is the biggest asset most Australians will own in their lifetime, outside of one other thing: their home. It’s important to ensure you have the right level of insurance cover for your needs. On the flip side, if you have paid off your mortgage and no longer have kids at home, for example, you may find that your insurance needs have lowered. If you have a partner, dependants, a mortgage, or other needs, these are important considerations. ![]() ![]() The insurance needs calculator, provided by the Association of Superannuation Funds of Australia, can give you a general picture of whether you have enough insurance cover to death, disablement, and income. With this in mind, it’s important to think now about your insurance needs in the lead up to your retirement, and in retirement. If you have Voluntary Cover through Qantas Super, this will also stop when you turn 65. Depending on the division of Qantas Super you’re in and your job type, the basic insurance cover you receive through your super account may stop between the ages of 55 and 65 – you can check this by reading the information booklets for your Division.
0 Comments
Read More
Leave a Reply. |