Retirement

More than three million Australians are at risk of financial ruin if they attempt to claim on insurance policies in superannuation after July 1 – only to find out they have been switched off under the Protecting Your Super package.
The Government released a big spending Budget last night. With an election likely to be called shortly and held in May, the Government is using this Budget to woo voters. It is important to remember that the Budget announcements are only proposals at this stage. Each one must be passed by Parliament before they are legislated.  Labor will respond with their Budget reply on Thursday night.
In this instalment of the monthly Economic Update courtesy of Kaplan Professional, Industry Super Australia chief economist Stephen Anthony gives us his view about Australia’s national shortage of affordable housing, the ‘infrastructure’ of social cohesion and the provision of an efficient mechanism to deliver equity capital to affordable housing providers.
Welcome to our Economic Update for November, courtesy of Kaplan Professional. Along with Sunsuper's chief economist Brian Parker we will examine the Royal Commission’s Interim Report and its effect on the economy, rising geopolitical tensions, and the drivers behind the ASX’s October fall.
This month we speak with Shane Oliver head of investment strategy and economics and chief economist and AMP Capita about falling house prices, economic warning flags, and how the US and China are positioning themselves in the early days of a trade war. Brought to you courtesy of Kaplan Professional.
Though most Australians tend to ignore superannuation until they get close to retirement, your superannuation is an important part of your financial journey for two main reasons:
  1. This will provide the bulk of your retirement income when you retire; and
  2. If you suffer a health issue during your working life, your superannuation usually holds (some) insurance benefit to help you and your family to manage.
It’s a new financial year and in retail world that means time to do a stocktake - a good opportunity for business owners to offload stock and also to take notice of what did work to plan for the new financial year. So we felt that now would a great time to pull together some ideas to help you do a financial stocktake!
When you visualise your retirement, what do you see? If you’re like thousands of other Aussies, chances are you think about getting stuck into a hobby, spending more time with your family, seeing the world, or exploring the great outdoors. Whatever your image of the ideal retirement, it gives you something to work towards; a goal to keep you on track. 
Self-managed superannuation funds (SMSFs)  are a popular choice for individuals saving for their retirement. There is no doubt that these an appropriate way to hold your superannuation if you want more control over how you invest, how much you pay and the option to hold property investments.  Individuals with a level of satisfaction to be enjoyed from managing your investing arrangements exactly as you want and to be able to directly invest in assets that are not offered by retail fund. However, establishing and running your own SMSF is not all plain sailing and you need to consider the responsibilities of a fund trustee and just how well prepared you are to choose your investment approach.
Traditionally, retirement planning assumed a retirement period of 25 years however people moving toward retirement today are generally healthier, more active and can expect greater longevity than earlier counterparts. It is key that people nearing retirement today plan to maximise their income and manage longevity risk. Let’s address some strategies when considering your retirement planning and making your money last.