Aim for $1.6 million in retirement sounds like a magic number.
I thought we would go back to the basics about superannuation.
Given the Covid-19 situation this past 3 months, there have been significant changes with early access to super through the Australian Tax Office.
Where people struggling financially as a result of the pandemic can access up to $10,000 of their superannuation per financial year.
In response to some questions I want to discuss maximising your super.
I share why it makes sense to maximise your super contributions.
I discuss contributions and concessional tax on super, the importance of having just one super fund.
You can also find lost super at www.ozfund.com.au if looking for unclaimed super.
I explain the advantage for low income earners to take advantage of the government’s co-contribution scheme.
I also discuss the First Home Buyers Scheme or First Home Super Saver Scheme.
We ponder some questions you should ask before withdrawing money from your super fund.
Lastly, I explain why having $1.6 million dollars saved in super prior to retirement is beneficial.
Listen to find out more.
This podcast is posted under an Applaudible Self Produced Creator Agreement. Copyright owner is Dev Raga © 2020. All Rights Reserved.
This is general advice only. Seek the advice of a financial adviser.