I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $80k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date
Thanks for sharing your experience! I've been managing my portfolio myself, but it's not working out. Do you have any recommendations for a good investment advisor? I could really use some help
My CFA, Eric Paul Elmer, is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
@SuperguyAU hey Chris. How about a video on the ‘sweet spot’ for your super/assets balance and the age pension. I’ve read/worked out it’s around $3-400k?
@ Yes mate. Which is well over 50% of the population. Advice should be not just for the privileged/successful. In fact, they probably need lees advice. And you do know that having around $600k in super at 67 is only marginally better than having around $400k? (As a single person)Better to stick that $200k in your house and maximise the pension. You get just about the same income, you have a nicer house, and your beneficiaries benefit. Win all round. That’s my point. A video for the ‘mid-point’ would appeal to millions of Australians.
Good info. I'm 72 and along with my daughter as a partner now running an e-commerce store. Should I put money into my super? I do have a company run super but with only $150,000. This was when I was working in a full time corporate job. I have since retired. A friend has told me not to bother about Super anymore
I have started a TTR TRIS account and continue to work without complicated arrangements. Yes I pay a bit more tax but don't want to be audited for the wrong reasons.
Chris great info again, if when i turn 60 and start a TTR pension and am still working how many hours do i need to reduce to so that I qualify for the TTR pension?
At 7:42 you talk about further Super contributions, from continuing to work, adding to your funds. Please can you expand on this as I thought that once your super goes into "pension" mode, you could no longer pay into that fund.
I'm 52 now. If I accessed all of my super at 60 and then moved overseas (Spain) and acquired permanent residency and worked there, would there be any chance the Australian Government would want to tax the Super I had accessed?
You would worry more about if it was taxable in Spain I think. I think if u move to the uk for example and are drawing 50k tax free from super in Australia I think that becomes taxable in the uk as they don't respect its tax free nature
if I am over 65 and want to access and use my super funds for some thing e.g. buy property for my own residence, how would that affect the support that I get from Centre link?
‘Unforeseen opportunity’. If you’ve got a relationship with your employer and have nothing to the contrary in writing you’re fine. It’s a ridiculous, but welcome loophole.
![เจ็บที่ยังฮัก - ม่อน วรวิทย์ [ Official Mv ] จอนนี่มิวสิค](http://i.ytimg.com/vi/KALIGSRSjFs/mqdefault.jpg)
I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $80k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date
Thanks for sharing your experience! I've been managing my portfolio myself, but it's not working out. Do you have any recommendations for a good investment advisor? I could really use some help
My CFA, Eric Paul Elmer, is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
@SuperguyAU hey Chris. How about a video on the ‘sweet spot’ for your super/assets balance and the age pension. I’ve read/worked out it’s around $3-400k?
The sweetest spot in being dependent of the government for your income.
@ Yes mate. Which is well over 50% of the population. Advice should be not just for the privileged/successful. In fact, they probably need lees advice.
And you do know that having around $600k in super at 67 is only marginally better than having around $400k? (As a single person)Better to stick that $200k in your house and maximise the pension. You get just about the same income, you have a nicer house, and your beneficiaries benefit. Win all round.
That’s my point. A video for the ‘mid-point’ would appeal to millions of Australians.
Dare I ask. How does it work if I am retiring my job at 55? Defined benefit.
Good info. I'm 72 and along with my daughter as a partner now running an e-commerce store. Should I put money into my super? I do have a company run super but with only $150,000. This was when I was working in a full time corporate job. I have since retired. A friend has told me not to bother about Super anymore
How does retiring at 60 access your SMSF super, then starting a business? Will that affect your retirement?
I have started a TTR TRIS account and continue to work without complicated arrangements. Yes I pay a bit more tax but don't want to be audited for the wrong reasons.
Chris great info again, if when i turn 60 and start a TTR pension and am still working how many hours do i need to reduce to so that I qualify for the TTR pension?
At 7:42 you talk about further Super contributions, from continuing to work, adding to your funds. Please can you expand on this as I thought that once your super goes into "pension" mode, you could no longer pay into that fund.
I'm 52 now. If I accessed all of my super at 60 and then moved overseas (Spain) and acquired permanent residency and worked there, would there be any chance the Australian Government would want to tax the Super I had accessed?
Once you are 60 and meet the requirements to start a Simple Account based pension, you can access the entire amount as a lump sum tax free.
You would worry more about if it was taxable in Spain I think. I think if u move to the uk for example and are drawing 50k tax free from super in Australia I think that becomes taxable in the uk as they don't respect its tax free nature
Thanks mate. Excellent information. Answered a number of questions I was unsure about
if I am over 65 and want to access and use my super funds for some thing e.g. buy property for my own residence, how would that affect the support that I get from Centre link?
Thank you for this important information.
‘Unforeseen opportunity’. If you’ve got a relationship with your employer and have nothing to the contrary in writing you’re fine.
It’s a ridiculous, but welcome loophole.