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Gearing up to slow down?
It’s never too early
Start preparing for retirement today. By having a structured financial plan as early as possible, you’ll be putting yourself in the best position for the future.
To give you an understanding of your total potential retirement balance, consider how you manage your savings, your super balance and structure, any investments you have and any pensions you are, or will be, eligible for.
It’s super dooper
How much do you need?
It’s important to have a goal in place when making plans.
A handy calculator provided by the Australian Security & Investments Commission can help you work out how much super you'll have when you retire and how fees will affect your final payout.
The fund that fits
Super is money that you have earned, and in most cases you can choose where your super goes, so do your research to find the best fund to suit your needs.
If you haven’t chosen your own super fund, your employer will usually pay your super contributions to their default super fund. This may not be the best fund for your situation, so it pays to make informed decisions.
If you're looking for complete control of your super, it may pay to think about a self-managed super fund.
That little bit extra
Your employer generally pays a Superannuation Guarantee of 9.5% (an increase of 0.25% from 1st July 2014) of your salary to your super fund.
Making extra contributions from your pre-tax wages is a great way to reduce taxable income and increase your final super payout, and there may also be tax incentives for putting in that little bit extra.
Saving for retirement
Watch your assets grow
Saving is the foundation of any long-term financial success. When setting financial goals for retirement, it’s important to understand where your income is currently coming from, and your spending habits so you can identify how much you can afford to save.
Proper management of your savings will see your assets grow and grow and grow...
Penchant for pensions
The rules regarding pensions are complicated and always changing. Check out the Department of Human Services website for the latest information relating to government funded pensions.
Your ‘golden’ years
We've got your back
Our Financial Planning team at People’s Choice Credit Union are all duly qualified, skilled and experienced to help you achieve financial success for the long and short term. Enquire online or call 1300 132 982 today.
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Please call us on 1300 132 982 from 9am - 5pm, Mon – Fri (ACDT) to arrange for a Financial Planner to contact you. Alternatively you can enquire online.
The information above is not intended to constitute financial advice and does not take into consideration your personal objectives, financial situation or needs. Before deciding whether a financial product is appropriate for you, you should obtain and consider the Product Disclosure Statement (PDS) for the product, and all other relevant documents, and consider obtaining financial advice. You can speak with a People’s Choice Financial Planner to obtain further information, financial advice or copies of the PDS for any financial product we distribute or make available. Contact us on 1300 132 982, or email [email protected] to make an appointment.
People’s Choice Credit Union, a trading name of Australian Central Credit Union Ltd ABN 11 087 651 125 (People’s Choice), acts under its own Australian Financial Services Licence (AFSL 244310) and Australian Credit Licence (ACL 244310). In Western Australia, our Financial Planning is provided through Financial Solutions Australasia Pty Ltd ABN 36 008 939 599 AFSL 244308 (Financial Solutions), a wholly owned subsidiary of People’s Choice. Financial Solutions is not an authorised deposit-taking institution and its obligations do not constitute deposits or liabilities of People’s Choice and are not guaranteed or supported by People’s Choice.