You may recall in the wake of the May 2023-24 Federal Budget that we reported on a welcome energy rebate of up to $500 for most senior Australians. Today we follow up with news of what you need to do to ensure you receive these funds. They will not necessarily be automatically credited to your account. You may need to take action to make these payments happen.
Articles and information on superannuation usually fall into one of two types – what you need to know when you are saving it, and what you need to know when you are spending it. Much of the coverage of superannuation funds can be similarly narrow. Comparing year-on-year or month-on-month returns gets a lot of attention. But there are so many more aspects to super than just annual returns. Today we focus on five different ways you can evaluate your fund to ensure that you are getting value for money.
Here’s our five-point checklist to guide you through your evaluation.
The most commonly asked questions in retirement income are ‘Will my money last as long as I do?’ And ‘Am I in danger of running out?’
The problem is, there is no really useful way to respond. The correct answers to these two questions are ‘probably, and probably not’. Which is hardly a satisfying reply to retirees trying to plan for the next 20, 30, even 40 years.
A much more accurate question is ‘How much can I safely spend in retirement’. It’s a good question because the answer can be accurately predicted using lifespan and retirement spending forecasting calculators.
Let’s start with the elements of safe spending so you can review your current (or future) retirement spending and whether you with relaxed about this outlook.