Superannuation is the second largest asset outside our family home so it is important wisely to meet your retirement needs. Superannuation can be complex and there are constant government changes that will affect you.  Superannuation is a tax effective for the long term.

Its important to review you current superannuation to ensure your money will pass to the right person and your portfolio is structure in line with your investment objectives.

Achieving insurance protection for the family can also be arranged from your superannuation account.  There are many investment options and products to choose from. We will assist you consolidate your superannuation accounts to safe you on fees and ensure your comfortable with the investment risk. We will guide you to understand the superannuation rules relating how much you can contribute and accessing your money.

At Bamboo Wealth we can review your superannuation portfolio to navigate through changes in super laws and financial markets to ensure your retirement goals are on track.

Superannuation - Some key points to consider

According to the Australian Government Treasury’s 2015 Intergenerational report, Australians are living longer and in better health than ever before. This means you’ll probably need more money than past generations to fund the long and active retirement ahead of youPerson insurance is an integral part of the financial planning process and should not be ignored or taken lightly.

Ensuring you have a healthy super balance is one of the most effective ways of building financial security for your future.

Not only are we living longer but statistics by the Australian Superannuation Funds Australia (ASFA) also show we are retiring at around 60 years of age with very little superannuation savings to support our income needs.

Australian Government has a three tier approach to ensure you have adequate funds to retire comfortably. They include:

  • Providing employer super through the Superannuation Guarantee scheme
  • Providing tax benefits to encourage you to invest in super
  • As a Last resort , providing government pension benefits

Although this Government strategy has been implemented for over 30 year now, most Australians are still relying on Government support.

  • Contributions and earnings are taxed at maximum 15% compared to the highest marginal tax rate of 47% or 49 if you income is greater than $300,000
  • You have access to many investment option including managed funds, shares and ETFs.
  • The maximum capital gains tax is 15% if you hold the asset for at least 12 months.
  • You have access to professional fund managers allowing you to diversity your investment.
  • Once you reach age 60, you can withdrawal you money tax free or have the option to start an income stream.
  • It can be used as a forced way to save you retirement.
  • Your money is locked away until you reach your preservation age once you contribute
  • Superannuation and taxation laws change over time.
  • If you exceed the contribution limits, excess taxes apply.

Investing more money in superannuation is tax effective meaning your money will grow quicker in the long term.

  • If you are self employed there are other significant tax reliefs
  • We can consolidate your superannuation policies to save fees
  • We can implement simple pre retirement strategies
  • Help you to invest in line with your comfort level
  • Assist you to protect your family using insurance policies inside your superannuation account.
  • Review your current policy to ensure it meets your needs