Hi, I read the article. I’m a bit confused. Are the final figures in future dollars or “today’s dollars” when I used a super projection calculator with same figures the totals were completely different. Thanks
I would have liked to put more money into super from my 40's and 50's, but I was too obsessed with paying down my mortgage to be debt free for the later years. The word 'retirement' implies a choice, but most of us know its less a choice and really about preparing ourselves for the moment where at the interview employers realise you're older than they expected and the job offers stop. From 45 on it was a 'make hay while the sun shines' situation for me and I earned a pretty good income.
I’m planning for the guard rail approach and part time income. Our projected retirement savings should be enough to provide us a comfortable lifestyle plus enough discretionary spending for an overseas and local holiday each year. If the share market tanks we can either cut back discretionary spending or use our part time income for holidaying. We would only need to work one or two days a week for this to be viable but I expect we’ll work more than that.
yes you can choose a percentage to go into different options. I have 2, balanced (which is considered 'growth' and stable. My question is when I withdraw can I choose to withdraw it from the stable portion, so I can leave the growth option untouched and earning, not that its earning much.
Hi Jacquie - this is an important point. Not all funds have this capability today (some draw from your account across the mix as a whole). It is one of the criteria we have on the Epic Retirement Tick though - so we'll be putting pressure on it as an important thing to have
After the withdrawal, I could transfer some from the stable option to top up the amount they withdrew from the balanced option. But it would be easier if they just allowed us to nominate up front which option we'd like to withdraw from. Looking forward to the Retirement Tick results to see how my fund measures up.
Hi, I read the article. I’m a bit confused. Are the final figures in future dollars or “today’s dollars” when I used a super projection calculator with same figures the totals were completely different. Thanks
Is your ‘bucket system’ applicable in all Super funds? For instance Aust. Retirement Trust?
I would have liked to put more money into super from my 40's and 50's, but I was too obsessed with paying down my mortgage to be debt free for the later years. The word 'retirement' implies a choice, but most of us know its less a choice and really about preparing ourselves for the moment where at the interview employers realise you're older than they expected and the job offers stop. From 45 on it was a 'make hay while the sun shines' situation for me and I earned a pretty good income.
I’m planning for the guard rail approach and part time income. Our projected retirement savings should be enough to provide us a comfortable lifestyle plus enough discretionary spending for an overseas and local holiday each year. If the share market tanks we can either cut back discretionary spending or use our part time income for holidaying. We would only need to work one or two days a week for this to be viable but I expect we’ll work more than that.
Is it possible to split your superannuation into group lots. Ie high growth, balanced
yes you can choose a percentage to go into different options. I have 2, balanced (which is considered 'growth' and stable. My question is when I withdraw can I choose to withdraw it from the stable portion, so I can leave the growth option untouched and earning, not that its earning much.
Hi Jacquie - this is an important point. Not all funds have this capability today (some draw from your account across the mix as a whole). It is one of the criteria we have on the Epic Retirement Tick though - so we'll be putting pressure on it as an important thing to have
After the withdrawal, I could transfer some from the stable option to top up the amount they withdrew from the balanced option. But it would be easier if they just allowed us to nominate up front which option we'd like to withdraw from. Looking forward to the Retirement Tick results to see how my fund measures up.