Amidst mild protest by the employer fraternity, the minimum Superannuation rate has increased from 9.25 to 9.50 percent. The Federal government had made a promise prior to the election that the rate would not rise, but the bill to hold the SG rate could not pass through the senate in time.
Category: Feature Archives
Australian Super System Fails to Secure Retirees
Super system prevalent in Australia does not promise even a decent retirement to all who believe in its competence. This statement, harsh as it may sound, is as close to the truth as it comes. More than half of the pre-retirees will be in excess of $140,000 short at the time of their retirement.
SMSF Investments in Residential Property Market
With the SMSF members’ tally crossing the million mark, it is about time we begin to look into where their investments are going. Any new financial strategy comes with its fair share of cynics and detractors and SMSF has not been an exception.
This said, the cynics are fast beginning to comprehend that the self-managed super fund is here to stay. After all, individuals becoming helmsmen of their own retirement planning is a novel idea.
Choosing Between SMA and IMA
If there is something that confuses retirement planners and wealth-seekers alike more than anything else, it is the many acronyms that they need to memorize and know the concept of, such as MDA, SMA, or IMA. Laymen find it hard to tide over this jargon pool.
For the uninitiated, MDA stands for a Managed Discretionary Account whereas SMA is a Separately Managed Account and IMA is an Individually Managed Account. Alright then, let me set a few peculiarities straight by explaining what they are and whether they are for you or not.
The Importance of Retirement Planning
I have news which is enough to send shivers down Gen X andY’s spine. Baby Boomers are at least 4-6 times short of the amount needed for decent post-retirement living. So does it send shivers? Not even the mildest one. Young people think they will never get old and that retirement planning is not something they should spend their time and money on.
Why Many Women are not Concerned about Retirement Savings
It is significant to discuss the amount of retirement planning — or the lack of it — that women of our times indulge in. Find out why women are not so thrilled nor concerned about planning their retirement.
