I took mine as a lump sum when I retired, but I wish I’d thought it through a bit more. I ended up putting a lot of it into investments, and with the market being so volatile, it’s been a stressful ride. I should’ve considered other ways to use it.
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.
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.
Thank you for all that you do; it is truly wonderful, and educational, although general in nature. A fellow financial adviser. I would love you to do a transition to retirement video, please, if possible.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
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*
In the case of retiring and setting up an account based income stream after you're 60, does your pension account attract tax on earnings and capital gains? Also when you turn 67 is the income stream assesable for centrelink purposes? Cheers
I took mine as a lump sum when I retired, but I wish I’d thought it through a bit more. I ended up putting a lot of it into investments, and with the market being so volatile, it’s been a stressful ride. I should’ve considered other ways to use it.
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. .
Thank you for all that you do; it is truly wonderful, and educational, although general in nature. A fellow financial adviser. I would love you to do a transition to retirement video, please, if possible.
Thanks Michael for your kind words. By the way we do have a couple of webinars on transition to retirement available to members.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
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.
In the case of retiring and setting up an account based income stream after you're 60, does your pension account attract tax on earnings and capital gains? Also when you turn 67 is the income stream assesable for centrelink purposes? Cheers
Where do you declare that you are retired?
To your super fund.