ActewAGL seminars

The changing nature of super – is 45 the new 55?

Super was central to the May budget and if current proposals are legislated, it will be much harder for Australians to maximise the full tax benefits provided by super if they wait until just prior to retirement to do so.

Australians today will need to engage with their super much sooner if they want to maximise their tax benefits and entitlements.

When you combine our changing super environment with our current economic environment – A$40b deficit, global market volatility, record low interest rates and the likelihood of further changes to tax and superannuation – you are presented with some interesting opportunities and challenges.

Investing for your retirement

Investing today is complex, particularly if you’re investing for the long-term.

You can’t afford to expose your life savings to increasingly volatile equity markets – both in Australia and abroad, yet investing in cash while interest rates are low won’t provide the yield your hard earned money deserves.

Many investors today are caught somewhere between an overexposure to equities – and cash investments earning rates below minimum pension levels. Both scenarios present investors with interesting challenges and opportunities.

Building your wealth while you’re young

Proposed super changes may  make it harder for Australians under the age of 40 to build their retirement savings.

Similarly the investment outlook for this generation isn’t nearly as favourable as it once was, with an Australian deficit of $40b, increasing global market volatility and the likelihood of further changes to tax and superannuation.

However, young Australian’s today are much more likely to prepare financially for their future and have at least one advantage over those close to retirement – the benefit of compounding. Small adjustments made to your plans today can have a huge impact on your future.

Planning for a sustainable retirement

While it is likely that proposed super changes will make it harder for Australians to put money into super just prior to retirement, super remains an important and tax effective component of any retirement plan.

By taking action today you can optimise the tax benefits and entitlements provided by super, but it’s important to be aware of the ‘retirement risk zone’ – the period prior to and following retirement when life savings are likely to peak and therefore exposure to sequencing risk (the worst returns in the worst order) and market corrections are heightened.

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