That was very informative. What is refreshing is the candid nature of your dicussion and the real world experience. You give a balanced view on a whole range of considerations. Well done!
Why are super funds not seperated into growth and defensive accounts? I.e. if the market crashes right before retirement, I could just draw on my defensive assets until the growth asset portion recovers, this way I won't have to sell any equities when they are down - because super funds are all lumped together this can't be done. Because of this, it makes me want to have a SMSF, with VDHG (or DHHF) and treasury bonds/cash/gold defensive assets (at the age / risk / goal appropriate split). I am late 30s and just starting to research everything retirement, very glad to have stumbled upon your channel. Thanks
I really enjoyed listening - you touched on a strategy of establishing a cash bucket which I have worked hard to build over over the last few years. Can you please explain the pro's & con's of were to keep this cash buffer ( in or out of super ) and the methodology of how its best used .
Peoples answer whats the point I cant touch my money till I am 65.. well I am 55 wanting to retire, but geez the years from 40 to 55 go quick....#startearlyfolks
@@angelabyrne154 Salary Sacrifice and Concessional Contributions is now available up to $30,000 per year (includes employer contributions). That means, if the employer puts in $10,000 as part of the Super Guarantee, an individual can add an additional $20,000 to their Super fund - then claim a tax deduction. Here's how I think about it (this process contains general financial information/advice only, I (Owen Rask) do not know anyone's needs, goals or objectives. So speak to a licensed and trusted financial adviser before acting on this information. Visit www.rask.com.au/fsg to learn more about the advice I can give): 1. Know how much my employer is adding to Super for me (Super Guarantee - can use my.gov.au or the Super fund's member portal to check - it's currently 11.5% of our salary) 2. In May/June each year, I estimate how much 'unused cap' I have left (e.g. my employer will put in $15,000, so I have $15,000 left over) 3. I transfer money into Super via Bpay (found inside the member portal) 4. Fill out my Super Fund's 'Notice of Intent to Claim a Tax Deduction' form and submit it 5. Claim the tax deduction in my tax return Obviously, there are risks to chucking money in Super. But there are lots of benefits, especially when using an adviser. There's also a 'catch-up allowance' in place now (e.g. if someone has $500,000 in Super, they may be able to use the last few years' worth of the concessional cap to add extra this year - my.gov.au has this information inside the 'ATO' section >> Super) ATO rules: www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/caps-limits-and-tax-on-super-contributions/concessional-contributions-cap Cheers! Owen Rask
ASFA put all their budgets online and it isn't hard to find or read, it's pretty lazy to sit there laughing about it when you haven't taken 5 minutes to even look
That was very informative. What is refreshing is the candid nature of your dicussion and the real world experience. You give a balanced view on a whole range of considerations. Well done!
Why are super funds not seperated into growth and defensive accounts? I.e. if the market crashes right before retirement, I could just draw on my defensive assets until the growth asset portion recovers, this way I won't have to sell any equities when they are down - because super funds are all lumped together this can't be done. Because of this, it makes me want to have a SMSF, with VDHG (or DHHF) and treasury bonds/cash/gold defensive assets (at the age / risk / goal appropriate split). I am late 30s and just starting to research everything retirement, very glad to have stumbled upon your channel. Thanks
I highly recommend your book too, the first financial one I have bought
It was allll Jamie, Angela 😉just kidding, Jamie and Drew are a good combo. ~ Owen
I really enjoyed listening - you touched on a strategy of establishing a cash bucket which I have worked hard to build over over the last few years. Can you please explain the pro's & con's of were to keep this cash buffer ( in or out of super ) and the methodology of how its best used .
Great question - I'll put it to the guys when Q&A episodes start in a few weeks :)
Peoples answer whats the point I cant touch my money till I am 65.. well I am 55 wanting to retire, but geez the years from 40 to 55 go quick....#startearlyfolks
I don’t think I have enough super…………. But I can’t see me working till I’m 67 😭 which is only 12 years away
Do you salary sacrifice? Even 5% makes a difference (but not to your current net pay).
@@angelabyrne154 Salary Sacrifice and Concessional Contributions is now available up to $30,000 per year (includes employer contributions).
That means, if the employer puts in $10,000 as part of the Super Guarantee, an individual can add an additional $20,000 to their Super fund - then claim a tax deduction.
Here's how I think about it (this process contains general financial information/advice only, I (Owen Rask) do not know anyone's needs, goals or objectives. So speak to a licensed and trusted financial adviser before acting on this information. Visit www.rask.com.au/fsg to learn more about the advice I can give):
1. Know how much my employer is adding to Super for me (Super Guarantee - can use my.gov.au or the Super fund's member portal to check - it's currently 11.5% of our salary)
2. In May/June each year, I estimate how much 'unused cap' I have left (e.g. my employer will put in $15,000, so I have $15,000 left over)
3. I transfer money into Super via Bpay (found inside the member portal)
4. Fill out my Super Fund's 'Notice of Intent to Claim a Tax Deduction' form and submit it
5. Claim the tax deduction in my tax return
Obviously, there are risks to chucking money in Super. But there are lots of benefits, especially when using an adviser. There's also a 'catch-up allowance' in place now (e.g. if someone has $500,000 in Super, they may be able to use the last few years' worth of the concessional cap to add extra this year - my.gov.au has this information inside the 'ATO' section >> Super)
ATO rules:
www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/caps-limits-and-tax-on-super-contributions/concessional-contributions-cap
Cheers!
Owen Rask
Scam alert again!
How so?
Thanks for that incisive analysis …. 🙄
ASFA put all their budgets online and it isn't hard to find or read, it's pretty lazy to sit there laughing about it when you haven't taken 5 minutes to even look