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Your not getting a Seniors Card so you get 50% off rates, water rates,car rego etc off States....

@ A seniors card does not entitle you to any of those. You get the seniors card for discount public transport, cheap pub meals,discount movie tickets and other events and a few other discounts for some private businesses, e.g Some banks do not charge a monthly fee to use your bank account any way you want, some dry cleaners offer senior discounts etc. At $95,000 tax free you can afford these services, which is not aways the case on an age pension.

Use her name to quickly conduct an internet search.

SHE’S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME.

Infurnaevely1 she’s verified

Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

I know this lady you just mentioned. Evelyn Infurna Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Evelyn Infurna has demonstrated expertise in investment strategies n has been involved in managing portfolios and providing guidance to clients.

We don't charge $6000 for a plan! Our memberships are $55 to $145 per year

My apoligies, as I have had two quotes and both were around the $6000 mark

good question ...

Fee for advise is normally thousands. The “cost of doing business” for the advisor and you. You want expertise from someone who studied many years? It’s gonna cost

Glad it was helpful!

Works if your TSB is <= total available NCC limit (eg can use the carry forward and bring forward rules). If you had a relatively small super balance and were over 60 you could eliminate it. eg $490K TSB. If all this was taxable (due to SGL/SS contributions only) and your spouse had died and your super beneficiaries were your adult children, then on your death the $490K death benefit paid to them would be taxed at 15% + 2% ML = 17% x $490K = $83,300 tax liability. As you are under the $500K TSB cap, you could use the 'carry forward' of unused CC cap for past 5 years (about $500) and/or use the bring forward rule to use the current $120K CC cap plus the next 2 years CC cap. So, could withdraw the entire $490K super balance tax free (if retire or change job and over 60) and then make a NCC of the entire $490K back into super. This would then have $0 tax liability if paid out to adult beneficiaries on your death.

I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks...

@@NaufalKnoechel Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY*

@@FlorentGulliver Oh please I’d love that. Thanks!

*MARGARET MOLLI ALVEY*

Lookup with her name on the webpage.

While they may not directly give discounts for holders of this card, the fact that this card makes you eligible for lower Medicare Safety Net Thresholds means that you should still benefit when going to local GPs and specialists if you visit frequently enough to exceed $811.80 of gap payments in a year.

Hi - For an annuity that is purchased with superannuation money on or after 1 July 2017, it is the purchase price that is added to the transfer balance account, as we show in the video. The treatment you have described applies to a special category of income streams called capped defined benefits. These include annuities that were purchased prior to 1 July 2017. The only new capped defined benefit income streams that can be created (since 2017) are defined benefit pensions that individuals are entitled to from a super fund they belong to, rather than products that can be purchased. We cover this in more detail in the longer version of this video that is available to members.

@@SuperGuideAustralia Great, wasn't aware of that, thanks for the explanation.

Hi - Yes, starting new pensions does add to the transfer balance account but any lump sum withdrawals that are made from a retirement income stream are subtracted from it - making more space for future pensions. For example, if a pension was started with $1 million and then $300,000 was withdrawn as a lump sum, the transfer balance account would have a value of $700,000 due to the addition of $1 million when the pension was commenced, and subtraction of $300,000 when the lump sum was withdrawn. Any new income streams that are subsequently purchased/started will have their value added to the transfer balance account. We describe how debits from and credits to the transfer balance account operate from 6.20 in this video in the context of transferring money back into the accumulation phase. The same occurs when amounts are withdrawn as a lump sum (commutation), but not when payments are withdrawn as income. It is critical to ensure that instructions to your super fund about any withdrawals from an income stream are clear and specify whether the payment should be treated as income or a commutation (lump sum) due to this different treatment under the transfer balance account.

@ fabulous explanation, thank you!

I’m not on any side on this, but I guess to get that much in super, your hypothetical older couple put a lot of after tax income in super that, given the amounts we are talking about, we’re likely taxed at a high rate. Or they downsized their home. Or both.

What's not fair about it? I'm 55 and have worked since I was 15, paid income tax and also paid 15% tax on my contributions that I've put away in to super so that I have money when I stop working. That's what is unfair. Taxing money into a system designed to help you save for your own retirement and not rely on govt aged pension. I've also paid capital gains tax on an investment property, capital gains tax on shares I've made money on and paid an additional 1 percent more on my medicare levy for many many years because of being a high income earner. There is even add another tax I pay called a 293 assessment tax (another 15% tax for the same reason) look it up. I also studied and had a HECS debt and paid that too. Back to Super......it's fairly responsible I think that I've put my own money away for the future so I don't have to live off the govt pension and so I can l live a lifestyle I have been responsbile for funding. Why shouldn't my own super money be tax free once you reach retirement. I've being paying more than my fair share of tax for 40 years already. Why should I pay a higher rate of GST because I'm retired and have saved all my life? I do feel for the homeless and those with diabilities but life isn't fair at the end of the day. I could have been born in another less fortunate country, had a disability, had long periods of unemployment, had sick faimily but instead I've been lucky to be born in a capitalist country and making the most of it.😃 PS: Fully franked dividends come with tax paid on the entire dividend at the corporate rate of 30%. ie the company that issues them already paid the tax so no further tax payable.

before retirement those high income earners have been paying a fair bit of tax helping the disabled and unemployed. Furthermore there are no aged pension if not qualified. Instead, to save for such high balance there have been choices made how their money were saved for their retirement. If you can't beat them, join them.

@@noelg5783 There you go. I can’t wait to be a ‘self funded’ retiree. I get to use the luck to be born here, the tax structure, free uni (and some of my own hard work) to live well. But the real fun is being self righteous, isn’t it @noelg5783 ?

Simples, I dont drink, smoke or gamble. I worked all my life up to 70 hours a week. I spent less than I earned. Any surplus was invested in shares and property. I followed Warren Buffets doctrine on life. I educated myself, particulalry in the value of money and other things. So I worked my way out of poverty. I grew up one of eight kids after WWII in London. We were poor and the only way was up. I have paid more than my fair share of tax. income tax is not fair as the more you earn the greater % you pay. I get no hand outs, no pension, no rate relief or cheap prescriptions. Every one has the same opportunity in life. Some decide not to work to get ahead, others succeed.

According to Einstein, compound interest is the eighth wonder of the world, so, if you earn 8% interest on your money it will double every 8 years (a pretty realistic long term average return on super). Try it on a spreadhseet but doing the math backwards lets say I'm 60 and have $2,000,000 (for ease of the math), 8 years ago I would have had a $1,000,000 balance when I was 52, then 8 years before that when I was 44 a $500k balance and at 36 a $250k balance and at 28 a $125k balance. Sounding achievable? It is :)

It is certainly possible and without doing any risky investment.

Not really. It’s just a matter of knowing when and how to do it. Your tax agent / accountant can help you do it easily. 🙂

@dadoftwinsau Most accountants and tax agents don't even know super is taxed at 15% on growth. Even calling up the superfund, they had to get one of their specialists to tell me it's true and is not shown on any statements. Then there are the bonuses when in pension mode which they're suppose to remove the 15% on growth, but don't do it, but give you a so called bonus of 5% instead of the full 15%. Soooo scammy for super funds to do that.

And it didn't even mention cap on concessional contributions and bring forward rules

@@paulchilvers5032 15% tax on growth in accumulation mode. They're suppose to remove the 15% growth tax in pension mode but they don't. It's a scam.

australia is china

Instal a federal administrator and relegate Victoria to territory status

And what does that have to do with super

It depends on how much of your super is taxable and non taxable. Check with your Superannuation Fund. Eg If you have a $600k super, only $250k may be in the taxable area and therefore inside the TBC (360k - 120k x 3 years brought forward) and doable.

​@@dadoftwinsauBut you can't withdraw only your taxable component. Any withdrawal will be split proportionally between your taxable and non taxed components

Yes, the audio is terrible.

That’s exactly what I’m afraid of. The last thing I want is to blow through my super too quickly or make a bad investment. It’s supposed to be my safety net for the next 20 or 30 years.

You’re not alone. I was torn between starting an income stream and leaving it untouched for a while. Ultimately, I went with a pension stream so I’d have a regular income.

It gives me peace of mind knowing I’ve got that monthly payment coming in.

But I’ve been reading that even if you take an income stream, you still need to manage the money carefully. You can’t just set it and forget it, especially with inflation creeping up.

The reality is, your super might not be enough if you’re not managing it properly. .

To your super fund.

Thanks Michael for your kind words. By the way we do have a couple of webinars on transition to retirement available to members.