The farming industry is one of the cornerstones of the Australian economy. In recent years, the idea of getting into farming may have spawned amongst people seeking to supplant their income or to start over, even in retirement. Investing in one using your superfunds may require some finesse in crunching the numbers through retirement planning … Continued
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No matter how seniors anticipate and prepare their savings and pension in their early years, their retirement income is usually insufficient to fund their daily living due to circumstances such as emergencies and inflation. And to resolve this, retirees need to look for pension boost strategies, especially now with the rising cost of living. For … Continued
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Savings is the amount left after consumer spending is subtracted from the amount of disposable income you earned in a given period of time. As long as you’re in the right fund, it’s possible to get better returns from your savings. The bigger your deposit or the longer you tie your money up for, the … Continued
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Anyone could make money mistakes at one time or another, especially when you were young. It’s quite common to make questionable financial decisions. However, while some money mistakes are harmless and just part of growing up, some could have a greater effect on your future than others. Here are some of those money mistakes that … Continued
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Ideally, a lifetime income should last the rest of your retirement years, in spite of how much you’re bringing in. So where does it go? In relation to budgeting, it’s easier to target the obvious, such as your bought lunches or takeaway coffees. However, it can be tough to maintain if you feel deprived on … Continued
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Let’s consider some of the features of both options; a pension or income stream, compared to a lump sum payment. While working, you’re encouraged to plan your retirement and always reminded on whether you’re putting enough away to maintain a standard of living. Retirement Planning as well as professional advice are really important to get … Continued
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Are you thinking of managing your own super fund? Outside the financial sense, it can be rewarding to manage your superannuation, in which the most important aspect is you are in control. You can make all the decisions meaning the fund can directly address your specific needs. Self-managed super fund (SMSF) A self-managed super fund, … Continued
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Preparing to live out the next chapter of your life can help you build a quality of life in retirement. Transitioning to retirement is mostly an exciting phase in life, full of adventures and new possibilities. But for some retirees, moving on from work life can be a shock to their system now that there’s … Continued
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Running out of money is one of the most dreaded things you hope doesn’t happen when you retire. With a limited income stream, which used to come from wage and employment opportunities, it is quite impossible to rebuild your wealth once you enter retirement. Here are some strategies to help you ensure you won’t outlive … Continued
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