How to have more super?

At a recent professional development day I heard that everyone wants to have more super.

And it was also stated that our goal was to have no one relying on government although 76% on retirement do so.

So there are several legislated options available.

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.

The presentation was presented by Leah & Clarissa from Care to Move

They only started two years ago. They both had been nurses & that is a great comfort as they by definition are carers  by natural & training.

They very definitely have found a niche business.

It was all about letting go of the stuff that holds us down.


I like to manage my finances by myself                    26%’.wink

which I read during some study time today from

ASIC REPORT 627: Financial advice: What consumers really think

I have had three = 3 conversations this week from the 'myselfs' who have DIY = Destroyed it Yourself.

The first with a

1. ‘ It’s the worst action we have ever done’ said a client of our sometime ago when she bought an investment property.

A more recent client had bought a property up north for 450,000 ten years ago &  now according to the managing agent would get in the low 2s.
Very sadly the rent doesn't cover the debt of 350,000 interest costs. On top of that is the average costs of 10,000 which, yes deductible, still have to be paid first.

How many are like this?

The figures are that even when no debt a residential rental property gives on average a net income of very consistently 2%.

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.

A common question posed by advisers is whether clients need to complete the aged care means test assessment form.

A related line of questioning then revolves around
the benefits and disadvantages of completing or not completing the aged care means test form.

One can understand such concerns as the form appears to be lengthy which
can be intimidating for someone who is dealing with the social security and aged care system, especially for the first time.

Or, it may be the case that a person simply wishes to
make a conscious decision to limit exchange of information with a government agency. Liability towards aged care fees is based on clients’ assets and income, unless their means are not disclosed.

The means testing form can be important because once a
person’s assets and income are disclosed, this results in a means-tested amount which is a crucial figure to determine whether a resident is liable for an accommodation payment or a contribution as well as a means-tested care fee (MTCF)
According to RG 146, the skills requirements as set out in Appendix B are as follows:

1. Establish relationship with client.

2. Identify client objectives, needs, and financial situation.

3. Analyse client objectives, needs, financial situation and risk profile.

4. Develop appropriate strategies and solutions.

5. Present appropriate strategies and solutions to the client.

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.