Achieving Financial Freedom!

Monthly Archives: April 2016

Maximise your Retirement Savings before it is too late!

Have you maximised your retirement savings? There has been some media speculation in the lead up to the Federal Budget about potential changes to superannuation rules, including changes that might impact annual contribution caps and/or transition to retirement (TTR) strategies. So what does this mean for you? While these changes are only speculative, now may be the time to consider making the most of any potential benefits available under the current rules. This includes considering: – whether you can salary sacrifice the optimal level into super (being mindful of the contribution cap limits) and/or – a transition to retirement pension if you’re of preservation age which enables you to draw a pension from your super while you’re still working. What are the existing rules? Superannuation contribution caps Transition to retirement strategy To talk through these options based on your personal circumstances, book an appointment by emailing or calling our office. Sources: Australian Financial Review, 13 Feb 2016, Federal budget 2016 super grab: five ways to protect your nest egg and Australian Financial Review, 1 Feb 2016, Transition to retirement pension changes won’t just hit the wealthy