Tag: Ask the Expert
-
Ask the Expert: Put all your nest eggs in the property market? Read this
Question 1 Hello, I need some advice regarding my finances. I migrated late to Australia and because of this I am afraid my circumstances at retirement will not be good financially. I have two mortgages; one is my residence valued at $600,000, owing $410,000, and an investment property valued at $600,000, owing $435,000. I have…
-
Ask the Expert: Long term v short – choosing the right super investment settings
Question 1 I am 63 years old and intend to retire in two-three years. Currently, due to market volatility, I have shifted my super into a cash investment option, so am experiencing lower growth. My balance is about $570,000. Everywhere I read, the advice is to leave super in a higher growth option and to…
-
Ask the Expert: Tax on retirement investments can be complicated – here’s what to know
Question 1 Hi Craig, I have three separate managed investment funds and seek your advice in relation to the management fees and costs, as well as transaction costs. These are deducted direct from the accounts each year. Am I able to claim these amounts as tax deductions? I have had one account for more than…
-
Ask the Expert: When it comes to tax and super, it’s in your interest to take an interest
Question 1 How do I know how much of super is taxed and how much is not taxed? I have no idea what I am looking at when I look at my super total. All I know is that I have a bucket of funds in super, but really no idea of how I can…
-
Ask the Expert: Desperate to retire? Here are some options to consider first
Question 1 Hello. I am 58, single, have no debt and am desperate to leave work. I have $620,000 in my super and a mortgage of roughly $60,000. I am aware I can take only 10 per cent of my super each financial year. However, is there a way I can pay off my mortgage…
-
Ask the Expert: Buy low, sell high – super and navigating market volatility
Question 1 Hello Craig. I recently retired at 61 and have a defined benefit pension that covers needs. Given world events and market uncertainty, I’d welcome your thoughts on whether I should proceed with converting (some/most) of my accumulation fund to an income pension stream or wait for the market to settle (as much as…
-
Ask the Expert: When moving from a SMSF to managed super makes sense
Question 1 I have a self-managed super fund with a property valued at $420,000 and $70,000 in cash. I have personal shares worth approximately $100,000 that I’ve had for years. I have an investment property worth $580,000 and my home is rented out and worth approximately $1.1 million. I’m 61, single, transitioning to retirement, living…
-
Ask the Expert: Diversify investments for flexibility and financial freedom
Question 1 We have been lucky enough to have paid off our owner-occupied mortgage. We are wondering what to do with the funds we used to pay off the mortgage. We have two investment properties with mortgages, a healthy share portfolio and are contributing the maximum amount to super. Unsure if we should be paying…
-
Ask the Expert: When to finish working and how to maximise your super
Question 1 Hi Craig, thanks heaps for your many articles, much appreciated. We are nearing retirement with good supers. Is there an optimal time within a financial year to retire? For example, the end of financial year or just after starting the next financial year? All else being equal, it often comes down to tax…
-
Ask the Expert: How to responsibly dip into some of your super while still in the workforce
After age 60, is there any way to access a lump sum of super to pay off an outstanding mortgage without having to cease employment? As you point out, normally you need to either retire or cease a job to be able to access your super from age 60. Once you are 60, though, you…