Whether you’re already retired or preparing for retirement, an Apia financial adviser can guide you through the wealth creation and protection options that suit your individual needs.
You may only need help with a specific issue, such as consolidating your super funds, or you may have more general needs such as retirement planning or improving your retirement income.
Financial advice may help you:
- Work out how much income you’ll need in retirement
- Make your superannuation work harder
- Understand when and how to access your super
- Understand your options when transitioning to retirement
- Ensure your current investment portfolio is meeting your needs
- Improve your income and reduce the tax you pay in retirement
- Maximise your Centrelink entitlements
Seeing an Apia financial adviser is a simple and affordable way to take the hard work out of managing your finances, while still leaving you in control.
Making the most of super
Super’s a great place to save because investment earnings are generally taxed at a maximum of 15%, compared to your marginal tax rate of up to 46.5% (including the Medicare levy) if you were saving or investing outside of super.
An Apia financial adviser can help you take advantage of opportunities to maximise your super in the lead up to retirement.
You may be able to:
- Top up your super with non-super money, making it a more tax-effective way to save
- Make additional contributions to super and be eligible for a co-contribution from the government (depending on how much you earn)
- Reduce the tax you pay by putting some of your salary straight into super
- Turn some of your normal income into a more tax-effective income from super (if you’re over age 55)
- Change from full-time to part-time work without reducing your income (if you’re over age 55)
- Take money out of super after age 60 without paying any tax
Improving income in retirement
An Apia financial adviser can take you through your options for funding retirement, including:
Income streams
Converting your super to an income stream, such as an account based pension, is considered the most tax-effective way to fund retirement because your money remains in the superannuation environment and the earnings are tax-free.
Lump sums
Retirement can last many years, so an Apia financial adviser can also help you manage any retirement savings that you take out of the tax-effective super environment.
Centrelink
An Apia financial adviser can help you structure your income and assets effectively to maximise your Centrelink entitlements.