Superannuation and Retirement Planning
Regain confidence in your financial future and secure your retirement with personalised support from our team of experienced financial advisers.
Regaining control of your super and retirement
At Point B Planning, we understand that achieving financial security in retirement requires careful planning and strategic management of your superannuation. With our comprehensive Superannuation and Retirement Planning service, we empower you to take control of your financial future and enjoy peace of mind during your golden years.
Superannuation and retirement planning
- Superannuation Review & Consolidating: Begin by thoroughly reviewing and consolidating your superannuation accounts to ensure efficient management, optimised contributions, and tax minimisation strategies.
- SMSF Implementation: Consider implementing a Self-Managed Super Fund (SMSF) to gain greater control over your investments and retirement savings, including tailored investment management and strategic super contributions.
- Transition to Retirement Strategies: Explore strategic approaches to transitioning from work to retirement, including transition to retirement accounts, ensuring a smooth and financially secure journey.
- Retirement Income Pensions: Secure a steady income stream during retirement by exploring retirement income pension options tailored to your needs and goals, including account-based pensions.
- Age Pension & Centrelink Benefits: Understand your eligibility and optimise your entitlements to your benefits, maximising your financial resources and providing assistance with Disability Support Pension applications if needed.
- Retirement Funding Projections: Plan for a secure future by utilising retirement funding projections to align your financial goals with your retirement aspirations, including comprehensive estate planning to protect your legacy.
- Industry Superfund Advice: Receive guidance on choosing the right industry superfunds and managing them effectively to align with your financial goals.
- Superannuation Investment and Management: Develop and implement investment strategies within your superannuation to ensure optimal growth and security of your retirement savings.
Seek support from your financial adviser
At Point B Planning, we believe in the power of expert guidance and support. If you’re ready to take control and get your life back on track, we encourage you to seek support from our team of experienced financial advisers. With personalised advice and strategic planning, we’ll help you navigate the complexities of superannuation and retirement planning, empowering you to achieve financial freedom and security in your golden years.
Take the first step towards a brighter financial future by contacting us today to learn more about our Superannuation and Retirement Planning service. Your journey to financial security starts here at Point B Planning.
Start your retirement
The amount you’ll need in superannuation depends on your desired lifestyle and retirement expenses. The Association of Superannuation Funds of Australia (ASFA) recommends $545,000 for singles and $640,000 for couples to achieve a comfortable retirement. However, your specific needs could vary based on personal circumstances, inflation, and investment returns. For a more accurate assessment, it’s wise to consult with a financial planner who can provide tailored advice based on your financial situation and retirement goals.
The Age Pension is a government-provided income for Australians of retirement age. To qualify, you need to meet age and residency requirements, and your eligibility will depend on your assets and income. You can apply for the Age Pension online through the myGov portal or by visiting a Centrelink office. A financial planner can help assess your eligibility, assist with the application process, and ensure that you maximize your pension benefits.
In general, you can only access your superannuation when you reach your preservation age (between 55 and 60, depending on your birth year) and retire. However, there are exceptions, such as severe financial hardship or specific medical conditions. If you’re considering early access, it’s crucial to understand the tax implications and how it may impact your future retirement. Point B Planning can guide you through your options and help you make an informed decision.
If you have multiple super accounts, consolidating them can save you from paying multiple fees, potentially increasing your retirement savings. Before consolidating, though, check if any of your accounts offer valuable insurance or other benefits. Speaking to a financial planner ensures you don’t lose important protections when consolidating, and they can recommend the best super fund for your needs.
Contributions to your super can be tax-deductible, offering a great incentive to boost your retirement savings. For example, salary sacrifice contributions are taxed at 15%, which may be lower than your marginal tax rate, potentially reducing your overall tax burden. A financial planner can advise on the best strategies to make the most of these tax benefits based on your personal circumstances and help you optimize your super contributions.
There are annual contribution caps to superannuation. For concessional (before-tax) contributions, the cap is $27,500 per year. For non-concessional (after-tax) contributions, the cap is $110,000 per year. Exceeding these limits may result in additional tax penalties. At Point B Planning, we can help you structure your contributions effectively, ensuring you stay within these limits while maximizing your retirement savings.
Yes, you can continue to grow your superannuation even in retirement through investment strategies or by contributing to a transition-to-retirement income stream (TRIS). A financial planner can help assess your investment risk tolerance and guide you in making decisions that allow your super to keep growing throughout retirement, ensuring you have the funds to support your lifestyle.
This is a common concern, and the answer lies in smart financial planning. By working with a financial planner, you can create a budget, allocate investments strategically, and regularly review your finances to ensure that your super and other assets last throughout your retirement. At Point B Planning, we provide ongoing advice to help you manage your retirement funds effectively and sustainably.
Your superannuation doesn’t automatically form part of your estate. Instead, it’s distributed to your beneficiaries according to your super fund’s rules. To ensure your wishes are followed, you should nominate beneficiaries through a binding death benefit nomination. A financial planner can help you make these nominations and explain how superannuation will be distributed, providing peace of mind for you and your family.
Retirement planning is complex, with many variables to consider: superannuation, Age Pension eligibility, investments, and taxes. A financial planner helps by creating a personalized retirement strategy that aligns with your lifestyle goals and financial situation. At Point B Planning, we offer tailored advice to ensure you maximize your super, manage your investments wisely, and enjoy a secure, comfortable retirement.
Ready to take control of your retirement? Contact Point B Planning today for expert advice and personalized strategies to ensure your superannuation and pension work for you in the best way possible.
