3 hours ago
To receive the full age pension, you can have up to $387,500 in assets (excluding your family home). If you have more than $387,500 in assets, then you are entitled to a part pension, provided your assets are not worth more than $848,000.
Let’s look at an example of a couple who own their own home, and between them have $350,000 in their superannuation accounts. If their Super pays them 5% p.a. ($17,500) in the form of an income stream, they can then live off $53,801 per year, which is $1,034 per week. And remember, this money is completely tax free.
There are other things that need to be considered, however it may be easier than you thought to be able to live off a considerable income in retirement.
Some forward planning and strategy work is a must.
Contact us today to see how we can help you.