Super Advice Tailored for You
For some of us retirement is a long way away. For others it is just around the corner. At Insight we provide advice on a number of funds in the marketplace and can recommend a product that is suitable for you, no matter what stage of life you may be in.
“With so many things, such as fees, investments and insurance – which fund is right for you?”
Picking the right super fund today can make a big difference to your account balance and your retirement assets, both in the long and short term. But it can be hard determining which fund is right for you.
WHAT IS SUPER?
While many of us are familiar with the term, many do not truly understand what superannuation is. Superannuation is a system where money is placed into a fund to provide for a person’s retirement. It is a tax-effective system that offers concessional tax rates on contributions and earnings of the fund that are generally less than a persons marginal tax rate. However, these concessional tax rates come with limitations such as when contributed funds can be accessed and how.
WHAT SUPER ISN’T?
Super is not shares. Nor is it property or bonds or gold. These are investment assets. While some of these assets can be held within your super fund, these are not super themselves.
Most retail or industry super funds will be made up of combination of Shares from Australia
and Overseas, Bonds, Property Assets and other investments. Picking these investments varies from client to client and we work with you to understand how these investments act over time and which investments might be right for you today and into the future.
When picking the right investments, it is important to understand the volatility of each asset class and how this might impact you in the future. This is especially important
nt for those who are approaching retirement in the not so distant future, as the amount you retire with can affect how much you can draw throughout retirement.
HOW MUCH SHOULD I CONTRIBUTE TO SUPER?
This question will have a different answer for each client we meet. However, as a general guide, a couple that wants to enjoy a comfortable retirement should aim for an after tax income of $58,922 pa*. This means that your combined superannuation, pension and personal assets need to generate an after tax income of $58,922 each year.
To ensure our clients are on track to achieve this, we provide annual modelling of a client’s situation to ensure they are meeting their goals. This means you are informed along the way of your financial journey and know how much you will need to contribute along the way.
HOW IS INSIGHT REMUNERATED?
At Insight we are a fee for advice business – this means that our advice is charged at a flat rate, meaning you are able to know how much our advice will cost in advance. Further, this means we are able to recommend a wider variety of funds, as our remuneration is not aligned with a particular company.
SHOULD I PICK A NEW FUND OR STAY WITH MY EMPLOYER CHOSEN FUND?
As we are not aligned with a particular business we are able to recommend the right fund for you. This might be the fund you are currently with, this might be your employer fund or an alternate option – irrespective, we are able to recommend the right fund for you based on what you need today and in the future.
Contact Us Today
At Insight IRS we offer all prospective clients a complimentary initial meeting.
Call 1300 551 267 or Email great.advice@insight-irs.com.au