The biggest financial concern of Baby Boomers isn’t what you think

Category Archives: Superannuation

The biggest financial concern of Baby Boomers isn’t what you think

This article in the News’ Financial selection suggests people are maybe living in ‘Pixie Land’ when it comes to planning their superannuation. The article reports new research by Apia Insurance has found that three-quarters of people aged over 55 say they have been financially preparing for retirement. However, Planning for Prosperity senior financial adviser Bob Budreika said […] Read More >

Pensioners lose as high deeming rates don’t reflect their income

A recent Herald Sun article on how deeming rates that have not been updated since March 2015 are impacting pensioners income also included commentary from Bob Budreika What is a ‘deeming rate’ ? Deeming rates are the amounts that pensioners are assessed to earn on their financial assets such as cash or shares. Read more about […] Read More >

Bringing Understanding to your Investments

Using Superannuation to buy investment property

Bringing understanding to your investments It surprises me how much faith people have with their superannuation investments, especially those with Industry Funds.  Much of this is predicated on fairly decent average returns over the last 10, 15 and 20 years and reflects the growth in prosperity of much of the developed world.  Generally, comparable retail […] Read More >

Pre-EOFY 2017 Superannuation Checklist

Transition to Retirement

With 30 June fast approaching, time is running out to make any last super contributions before a raft of important rule changes from 1 July 2017. Concessional contributions From 1 July 2017, the concessional (deductible) contributions cap is reducing to $25,000 for everyone. Previously, it was $35,000 for people 49 years and older at the end […] Read More >

Improper use of your super fund can result in a big fine or even a prison sentence

Using Superannuation to buy investment property

Bob Budrieka has again been quoted as a subject matter expert in a recent Daily Telegraph article highlighting how improper use of your super fund can result in a big fine or even a prison sentence. Large penalties for misuse of SMSF Anthony Kean reports that “SELF-managed super funds are being illegally used to pay household bills, lend […] Read More >

Will you be impacted by the reforms to Superannuation?

Superannuation-reform-July-2017

From 1 July 2017 there will be some key changes to superannuation which may affect you.  In particular, those who are planning to make contributions or draw an income stream should review their strategies and seek professional advice. We have outlined some of the important changes below: Reduced age-based concessional contribution cap The age-based concessional […] Read More >

How do you see your retirement?

Super | Every bit counts

Is $1 Million enough Super ? In a recent review meeting, our client raised the topic of how much money might be needed for a comfortable retirement.  He bandied the figure of $1m as perhaps being the ideal amount of capital required.  This seems to be a common belief and it’s easy to understand why […] Read More >

‘Super Splitting’ can help boost couples’ super

super splitting

Super splitting is a section of superannuation legislation that’s not well known or used by individuals and financial advisers.  Principally, the reason is that it can only be used in limited instances.  Nevertheless, in the right situation, it can be a fantastic financial advantage to couples. So what is ‘super splitting?’ This allows a spouse […] Read More >

Small business owners and Superannuation

small-business-not-saving-superannuation

Daniel Budreika has provided input to a News Corp article reported today on how the ‘2.1 Million small business owners’ may not be able to retire they way they want. This is based on research from MYOB indicating that 50% of small business owners under 50 have done no superannuation planning. MYOB CEO says: “Our research shows that […] Read More >

Safe Withdrawal Rates for Australian Retirees

Using Superannuation to buy investment property

A common question we often get asked is “How much do I need to retire?” Obviously this depends on many factors such as; the age you and your spouse stop working, how long you live for, how much you will need to live on each year and how the money is invested. A US Study […] Read More >