Superannuation Planning: Making the most of it
Superannuation is a means of setting aside funds during your working life for use as retirement income. This occurs under a government regulatory system which provides certain taxation incentives and well advised controls for the benefit of contributors.
Superannuation is still one of the best ways to accumulate wealth and save for your retirement. An important reason, of course, is the favourable taxation treatment of these funds. However, to get the most out of superannuation, you need to understand the current legislation and use it to your advantage.
Planning for your Retirement
You may have a very idealistic vision of retirement—doing all of the things that you never seem to have time to do now. But how do you achieve that vision? People contemplating retirement face the inevitable questions:
- How much do you need to retire?
- Have you accumulated enough money to retire? and
- How do you make the most of what you have got?
There are numerous issues you need to consider, but with the right investment strategy, products such as account based pensions and annuities can make your money work for you. Some advantages of investing in these products include:
- Tax-effective regular income.
- Increased eligibility to potential Centrelink entitlements.
- Greater income via investment returns.
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