$400,000 and more, and with pension, and people are complaining its not enough? WTF, what are they buying and spending their money on when they are retired? Gold plated toilet seats?
Of course financial advisors want you to have as much money as possible, they get paid a percentage on the amounts you have invested. It’s not too hard to see through some of their tricks and we’re yet to find one we can trust despite government rules. Number one rule: trust no one when it comes to your money because everyone else wants it.
According to my information to get a full aged pension as a single home owner I can't have more than $314000 as you have said it's $400000 ..correct me if im wrong And no more than $695000.00
False. Aunt Sally. Its not hard to earn 8%pa on money outside Super, just as 8% pa is the long-run average of returns inside Super. 8% pa on $1 million equals $80k pa. That is more than 8%pa on $400k plus full Centrelink joint pension of $45k approx. The Fed Government is flush with cash and they hire actuaries, accountants and lawyers to stay one step ahead of Mum and Dad.
What about the Centrelink DEEMING RATES on interest Bro ??????
8 วันที่ผ่านมา +1
The deeming rates allow you to have $470k in assets and still receive a full pension. @ 7 % that's $32,900 plus a full pension. If you reach pensionable age and have forgone travel etc to accumulate wealth that makes you ineligible for a pension it is sad.
This is a crazy country when it comes to pensions. I have been told that I will have to divorce my wife of 40 years to get a pension or claim we are financially independent wait until she is dead. Thanks for nothing after working for 45 years.
@@ianwallace16 this interview assumes the couple are both 67+ and stopped working. If you or your partner draw income from wages or other sources then you may be assessed against the income test. www.servicesaustralia.gov.au/income-test-for-age-pension?context=22526
It would be great to be independent of the government and pension but that’s nearly impossible with the continual interference by the government and changing the rules. Remove all obstacles and allow us to get to whatever the concessional limit is and be free of these interfering numpties 🤬
$400,000 and more, and with pension, and people are complaining its not enough? WTF, what are they buying and spending their money on when they are retired? Gold plated toilet seats?
Ridiculous comment
Yes, The Best guaranteed return is the Aged pension.
Who wants to work until they’re 67? Enjoy your early 60s. Bodies break down quickly in late 60s ask your old neighbour
Of course financial advisors want you to have as much money as possible, they get paid a percentage on the amounts you have invested.
It’s not too hard to see through some of their tricks and we’re yet to find one we can trust despite government rules. Number one rule: trust no one when it comes to your money because everyone else wants it.
I have zero pensions. Self investing and earning double digit returns every year. Smarter not Harder
Double digit? $50?
Interesting , thanks for the advice.
According to my information to get a full aged pension as a single home owner I can't have more than $314000 as you have said it's $400000 ..correct me if im wrong And no more than $695000.00
False. Aunt Sally. Its not hard to earn 8%pa on money outside Super, just as 8% pa is the long-run average of returns inside Super. 8% pa on $1 million equals $80k pa. That is more than 8%pa on $400k plus full Centrelink joint pension of $45k approx. The Fed Government is flush with cash and they hire actuaries, accountants and lawyers to stay one step ahead of Mum and Dad.
What about the Centrelink DEEMING RATES on interest Bro ??????
The deeming rates allow you to have $470k in assets and still receive a full pension. @ 7 % that's $32,900 plus a full pension. If you reach pensionable age and have forgone travel etc to accumulate wealth that makes you ineligible for a pension it is sad.
Incorrect info here. Still better off with a milion in super compared to 400k
You're better off retiring with a million at age 60 owning a house and no debts, retire and then spend down to the $470k sweet spot at age 67.
Who is going to live in a $12000000 house and live on the pension, total rubbish
Nobody, but according the rules its perfectly legal and allowed, its just an example. Calm down
Good advice thank you
This is a crazy country when it comes to pensions. I have been told that I will have to divorce my wife of 40 years to get a pension or claim we are financially independent wait until she is dead. Thanks for nothing after working for 45 years.
My Mum and Dad were married 40+ years when they retired, and had worked for 40+ years, they had no trouble getting the pension as a married couple.
Wrong. Whoever told you that is wrong.
Umm tried 3 times with $400k pension rejected.
@@ianwallace16 this interview assumes the couple are both 67+ and stopped working. If you or your partner draw income from wages or other sources then you may be assessed against the income test. www.servicesaustralia.gov.au/income-test-for-age-pension?context=22526
You look like a single pensioner. The video assumes a couple.
It would be great to be independent of the government and pension but that’s nearly impossible with the continual interference by the government and changing the rules. Remove all obstacles and allow us to get to whatever the concessional limit is and be free of these interfering numpties 🤬