There are few situations where contributing money to super is a bad idea, with concessional tax rates and an investment that becomes largely, if not entirely tax free when you retire. The major downside is that funds are locked up until at least age 60. I met a client this week in this exact scenario […]
There are 24 million superannuation accounts in Australia, and more than 8 million weren’t chosen by the individual, rather chosen by their first employer, possibly as a 15-year-old landing their 1st job at McDonalds! Why is this important? Loyalty tax is the term used to describe the extra money long‑term customers end up paying […]
Q: I have close to $3m in super and am concerned about the extra 15 per cent tax on earnings on the amount over $3m. My partner only has $1m in super – what can we do to even up the balances? We are both in our late fifties. Ingrid A: You can transfer your […]
Approximately 30% of first marriages in Australia end in divorce, and unfortunately, a lot of people don’t learn the first time, with 60% of second marriages ending in divorce. Keep in mind that these figures represent the proportion of marriages that end in legal divorce, but don’t account for the breakdown of de facto relationships. […]
The aged care system in Australia is expensive, unfair and difficult to navigate. Even more concerning is that significant changes to the cost of aged care begin from November 1, 2025, which overall will increase fees for most Australians. Keep in mind that if you or a family member is already in permanent aged care, […]
At Plenary Wealth, we spend so much time discussing retirement planning, investment goals, and wealth creation. But what about preparing for what happens after we die? As we pay homage to Dying to Know Day (August 8), a national campaign encouraging conversations around death and dying, it’s the perfect time to talk about estate administration. […]