"The first wealth is health"
A 40% discount on your assets might assist you with more pension & & less stress.
Are your assets earning what the deemed rates are or are they earning very very little?
“John, I have been made redundant”
I read that Virgin Australia will cut 750 jobs as part of a restructure after 7 years of consecutive losses.
That was the headline to a recent post that attracted the most FB interest & the occasional feedback from Snow flakes.
I was recently asked who was my most frequent client is & it is not my cohort but those who are waving their family bye bye & their next life stage is closer.
I have just enjoyed a seminar entitled downsizing & rightsizing was introduced.
It was a seminar for all those who are downsizing but in particular those who may be looking at retirement villages, aged care & that later chapter in our lives.
Recent changes to the social security means testing of lifetime income streams has provided certainty of social security means test outcomes for lifetime income streams (including innovative superannuation income streams) commenced on or after 1 July 2019
Deferred lifetime annuities (DLAs) which are available today as a consequence.
These means test assessments, relative to other income streams or assets, mean that clients receiving a reduced Age Pension because of either the assets or income test, could immediately increase their Age Pension by investing part of their assets in a DLA.
The effect of any deferral period on a fixed investment amount, is to increase payments when they subsequently commence following the deferral period.
The longer the deferral period, the higher the starting payments available. 👀👀😊😊🌻
John Michael McAuliffe AFA, DipFp., BSc., DipTeach.