Superannuation for Women Part Two
Alison Greenwood continues with her words of wisdom for women, especially in regard to the low super account balance they will probably face when they retire. But there are thigns you can do to increase the benefits!
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Please note this advice is given for Australian residents. Also, the figures quoted are relevant for the 2018-2019 financial year. However, the basic principles still hold true.
- It’s good to build up your super so to take advantage of the decreased tax rates on offer.
- Why not use the tax concessions that are provided for your benefit?
- “If everyone had a financial plan when they first went into the workforce, the world would be a different place!”
- If you wait until the kids are grown up and have left home then it’s too late. Your time to save is very reduced. It’s far better to get into planning this early in life.
- You don’t know how much the rules are going to change. So it’s good to prepare now, because we don’t know what the future will hold.