Why is the Age Pension increasing?

Why is the Age Pension increasing?

Understanding Age Pension increases and……do they cover the cost of living? A couple of weeks ago we reported on the September 20 Age Pension increases.  This is one of two increases that occur each year with the next one scheduled for March 20 2025.  ...
Managing spending in retirement

Managing spending in retirement

The current economic climate has been described by many as a ‘crisis’. Whether rising prices and interest rates do indeed constitute a crisis is arguable. But it’s fair to say that most Australians are very concerned about the rapidly escalating costs of fuel, food,...
Should you pay off your mortgage?

Should you pay off your mortgage?

One in five of the people we see still have a mortgage on their home. Many of them also have money in the bank, super or some other investments. For part pensioners this can sometimes be costly. This is because most part pensioners, and those that aren’t eligible for...
Can gifting affect your entitlements?

Can gifting affect your entitlements?

Simple sums that share the rules The Retirement Essentials advice team is currently handling a lot of questions about Age Pension eligibility and the gifting of money or possessions to family members. At one level, the rules are fairly straightforward. But it is the...
Cash as a retirement investment

Cash as a retirement investment

The problems with cash: Are you missing out? One of the biggest mistakes in retirement income is to think that you don’t have enough to ‘worry about’. So you do nothing. It’s ironic, as those who say this are also likely to report that running out of money is their...
The Day the Pay stopped

The Day the Pay stopped

We all get to the point when our wages  stop as our years of working come to an end.  Maybe it’s ahead of you; maybe you’ve already gone through it.  It’s got to be one of the most significant and emotional moments that come with retirement. For years,...
September 2024 Age Pension Increases

September 2024 Age Pension Increases

Here’s what you’ll get The twice-yearly Age Pension indexation is due to increase 20 September. This Age Pension increase is much higher than the one that was awarded in March this year ($19.60 for singles and $29.40 for couples). We reported on 8 August our...