The first and most important step in the process. Once set, we can plan to achieve them.
We can figure the magic number you need to reach so you can retire or make work optional.
PROPERTY IN SUPER
Using a downsizing strategy can be a tax effective way to sell your home and boost your super.
We brainstorm different retirement strategies so you retire sooner or retire with more.
We keep you up to date and alert you of any opportunities that can help you retire earlier.
BORROWING IN SUPER
Using a reverse mortgage will allow you to access the capital in your home for your retirement.
SMSFs SETUP & ADMIN
We crunch the numbers to figure out when you will b able to retire or make work optional.
INVESTMENT IN SUPER
We maximise your entitlement so you're eating into less of your own savings or investments.
We make sure you get the most from aged care and in the best position in your final years.
Why is superannuation important
Superannuation is the most tax effective way to save for your retirement. Super contributions and earnings are taxed at a flat rate of 15%. Capital gains are also taxed at 15% or 10% if assets are held longer than 12 months.
When certain conditions are met, you can convert your super into an account based pension with a tax rate of 0% for earnings and capital gains. This is a legal tax haven.
Super asset are protected
Superannuation are held in special trusts and are protected in most cases from creditors. The rules and restriction seek to protect your super assets.
Superannuation funds are also have certain protections and guarantees for acts against fraud.
Superannuation is a non-estate assets and does not form part of the assets that are distributed by the will. There is an exception in NSW with the nominal estate provisions.
This means super are usually outside the powers of the will and challenges by family members, which are usually successful.
The Power of Compounding
The most powerful force in the universe is compound interest. This quote was credited to Einstein, which is probably not correct however it hints at the power of compounding.
The low tax structure of the super allows for effects of compounding to be enhanced. Higher returns and long investment periods will see your wealths soar.
Why get superannuation and SMSF advice from Whole Wealth
We are one of the rare independent financial planners in Australia.
We continuously improve our services to make your life easier.
We are all degree qualified in our field. We have decades of experience and training.
We pride ourselves on our advice because we take the time to get to know you.