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.
In an article for the website Super Review, Jason Spits talks about a Catch Up concessional contribution cap that is meant to aid those workers who have been out/away from work for long. Such a cap may help workers compensate for the shortage in their Super accumulation.
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.
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.
The SMSF game is hotting up and we aren’t complaining any, are we? Members acting as trustees and completely controlling their superannuation fund was a far-fetched idea in the past but GFC has changed all this. Today, about 40% of the Super money is parked in SMSF.
Myths need to be debunked, whether they are about an urban legend or the self-managed super fund. There is a lot of noise around how SMSF is only good if you have about $200,000 in your kitty. Let us find out if there is truth to this claim.