Commissions and Clients
Minister Bill Shorten is adamant that he will ban commissions within Super, after a recent lunch that we attended too, with the Minister as the main Speaker.
Possibilities of living off super?
I have many clients in various super funds that are on incomes of less than $70K, mostly ones that their employers are choosing. I have to say they have never received quality advice in the past, because their super is now at a standstill point and is not growing with the rate of inflation. As an employee you may be getting a contribution of 15% but if the returns from your super fund are negative that 15% is eroded.
Ask yourself if it will be possible for you to retire off $130k for life?
Using Financial Advice!
We urge people who have never used a Financial Planner who are over or close to 50 years of age to contact us, to assist in a strategy that will help you develop a plan to retire on amounts that supersede the capped super plan the government knows you will retire on. See it’s all planned, you were never meant to retire on any more than what you are worth, and it’s maybe a philosophy the government adopts.
If you are under 50 it is wise to get a plan in place now – before you know it you will turn 50 years of age and if you don’t plan now you too will retire on the set amount the government has in place for you.
What are you doing now, to change tomorrow?
If you have a question about your superannuation, or would like to speak to a Financial Adviser, call Australia Wide Tax Solutions in Leichhardt, Sydney on +61 (2) 8571 7300 or contact us.