Did you know it’s likely you’ll spend up to two decades or more in retirement? It’s a long time, so will you be able to afford all the things you’ve thought of doing in retirement, before your savings run out? By starting now and making small changes to how you approach your super, you can get closer to the retirement you’d like – and hopefully make your savings last longer.
Below are fives ways you can boost your super. We’ll go into the detail in future posts to come.
1. Add to super and claim a tax deduction for it
2. Look at consolidating multiple superannuation funds
3. Forgo some of your salary, save tax and direct it to super
4. Top up your super with non-tax deductible contributions
5. Contribute to your spouse’s super and reduce your tax bill
Stay tuned as we explore each strategy in detail.
|Contact us on 0893816811 for a consultation. Ray is a holistic, CERTIFIED FINANCIAL PLANNER® and LIFE RISK SPECIALIST® and has a Bachelor’s of Commerce in Financial Planning (with distinction). He is a member of The Financial Planning Association of Australia. We are based in Perth, Western Australia and specialise in retirement planning, wealth accumulation and wealth protection (life and disability insurance).|