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Retirement Planning Webinar Series 2017

The video above was recorded during a live webinar event conducted for Christian Super members 8.30pm AEST 11th September 2017 addressing how to Reduce Capital Gains Tax and Maximise your Estate including:

  • How to reduce Capital Gains Tax on the sale of an Asset (shares or property for example)
  • Maximising your estate in the event of your death

The 2017 how to Reduce Capital Gains Tax and Maximise your Estate Webinar presentation slides are available in PDF format here.

You can also register for the Centrelink and the Age Pension webinar Mon 23rd October 2017 8:30pm Australian Eastern Standard Time here where we will address the following:

  • How do you qualify for the age pension
  • How much can I work and still receive the pension
  • How to claim the Age Pension
  • What Income and Assets can I have?
  • What is deeming and how does it affect my pension?
  • Concessions Cards
  • Travelling Overseas and the Age Pension
  • What happens if I gift money or possessions?

Another video on this page is the Retirement Planning addressing the following:

  • How will I fund my retirement?
  • What phases of retirement should I be aware of?
  • How much superannuation do I need for retirement?

The 2017 Retirement Planning Webinar presentation slides are available in PDF format here.

Another video on this page is the How to Transition to Retirement webinar including:

  • How much should I salary sacrifice to superannuation?
  • What is the transition to retirement strategy?
  • How does the transition to retirement strategy benefit you?

The 2017 How to Transition to Retirement Webinar presentation slides are available in PDF format here.

Why Australian Retirees aren't happy?

An international survey highlighted that Australian retirees are less satisfied than retirees in Canada, the United Kingdom and the United States.

If you would like to learn more about retirement planning issues you can register for the first webinar in our retirement planning series here.

Paul Murphy[1] speculates that it is due to the complexity of options within the Australian retirement system. Our retirement funding model, whilst lauded around the world, does have its complexities.  Murphy argues that, as behavioural scientists have demonstrated, increased choice does not necessarily lead to increased happiness.

If the survey was conducted during 2017 I would have attributed the lower satisfaction level of Aussie retirees to the two changes to the Age Pension implemented on 1st January 2016 and 1st January 2017.  These changes reduced or eliminated Age Pension entitlements for 100,000’s of pensioners. However, the survey was conducted in 2015, prior to 2016/17 changes.

When I look at the analysis, I believe the more important finding is that pre-retirees are a less satisfied than recent retirees. To some degree this is an obvious statement, i.e. you don’t retire until you have met your retirement goals, and until retirement goals are achieved, there will be some dissatisfaction and some associated angst.

The most common question that pre-retirees and recent retirees ask me is, “do we have enough to provide for our short and long-term needs?” Once we have modelled their situation and run through some possible retirement scenarios, many feel more confident about their financial position. Numerous clients have teared up with the knowledge they “will be okay” financially when they retire, such is the stress associated with the uncertainty of not knowing.

A common view amongst pre-retirees is that if they had more funds available they would not feel such insecurity or concern, but this is not my experience. There is as much angst experienced by those with relatively more funds as those with relatively few.

One other interesting point highlighted by the survey was a high proportion of Australians thought they should have saved more, planned earlier and learned more about their superannuation.

[2]Figure – Retiree lookback

In retirement, other than your home, the next largest asset, and the asset that determines your retirement income is usually superannuation (held in the pension phase). Many people don’t’ realise this until after retirement. 33% of recent Australian retirees stated they should have learned more about their superannuation earlier.

If you identify with this we may be able to assist. Our retirement planning series of webinars will commence Monday 31st July 2017. The webinar will provide an overview of retirement planning issues including understanding the emotional phases of retirement, how much you will need in retirement and possible sources of income in retirement.

You can register for the webinar here. If you are unable to attend the live webinar please do register and we’ll email the recording to you after the event.



[1] https://www.vanguardinvestments.com.au/adviser/adv/articles/insights/research-commentary/vanguard-voices/why-australian-retirees-arent-happy.jsp?utm_source=AdviserDigest&utm_medium=email&utm_campaign=Jul2017&uid=3-H0XE-721&utm_content=Adv

[2] https://www.vanguardinvestments.com.au/adviser/adv/adviser-resources/retirement-transitions.jsp#/17

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Disclaimer

Gavin Martin and Cornerstone Wealth are Authorised Representatives of Lonsdale Financial Group Ltd ABN 76 006 637 225 | AFSL 246934

The content of this presentation is general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this presentation, you should assess your own circumstances or seek advice from a financial planner and seek tax advice from a registered tax agent. Information is current at the date of issue and may change.

© Cornerstone Wealth 2017. All rights reserved. No part of this presentation may be reproduced in any form without the prior permission of the copyright.