- May 28, 2024
- Posted by: legaleseblogger
- Category: Related News
Speed-Dial AI Lawyer (470) 835 3425 FREE
FREE Legal Document translation
Try Free Now: Legalese tool without registration
### Situation Overview
I am 36 years old and have been contributing to my superannuation fund fortnightly for the past three years. I initially started with a contribution of 25 every fortnight and made a commitment to increase it by another 25 whenever I received a pay rise. Over the years, my pay has been indexed and graded annually, leading to a few small promotions, and my current contribution stands at 175 per fortnight. It is expected to increase to 200 next week and reach 225 by July, taking advantage of tax breaks.
### Importance of Financial Planning
However, it is crucial to understand that missing money that was never part of your budget in the first place. Therefore, it is essential to continue with the contribution strategy that has been working well so far.
### Investment Allocation and Mortgage Management
I have allocated 70% of my superannuation to high-risk investments and 30% to moderate-risk investments. Additionally, I have a mortgage for which I am paying the minimum principal and interest and have savings sitting in an offset account, providing a saving of approximately 6.1% on my mortgage.
### Seeking Advice from AI Legalese Decoder
In this scenario, employing the AI Legalese Decoder can be beneficial in analyzing the financial situation, exploring potential investment opportunities, and optimizing the allocation of funds. The AI Legalese Decoder can offer insights on diverse investment strategies, recommend adjustments in the superannuation contribution plan, and provide guidance on managing the mortgage effectively.
### Future Strategies and Financial Planning
Moving forward, it is essential to explore additional avenues to enhance financial growth. Diversifying investment portfolios, reviewing superannuation performance regularly, and seeking expert advice through AI Legalese Decoder can all contribute to a comprehensive financial planning strategy. It is crucial to stay proactive in managing finances and continuously seek opportunities for wealth creation and long-term financial security.
Speed-Dial AI Lawyer (470) 835 3425 FREE
FREE Legal Document translation
Try Free Now: Legalese tool without registration
Original Content:
“In today’s fast-paced legal environment, understanding legal jargon and complex contracts can be overwhelming. It’s crucial for lawyers and legal professionals to effectively decipher intricate legal language to ensure accuracy and compliance. AI Legalese Decoder is a groundbreaking tool that utilizes artificial intelligence to simplify and interpret legal terminology, making it easier for legal professionals to navigate through complex documents and contracts. By utilizing this innovative technology, lawyers can save time and improve efficiency in their legal research and documentation processes.”
Revised Content:
The legal landscape is constantly evolving and becoming increasingly complex, requiring legal professionals to have a deep understanding of intricate legal terminology and complex contracts. In today’s fast-paced legal environment, the ability to effectively decipher legal jargon is crucial for ensuring accuracy and compliance. AI Legalese Decoder is a cutting-edge tool that harnesses the power of artificial intelligence to simplify and interpret complex legal language, providing legal professionals with a valuable resource to navigate through challenging documents and contracts. By leveraging the capabilities of AI Legalese Decoder, lawyers can not only save time, but also enhance their efficiency in legal research and documentation processes. This innovative technology can revolutionize the way legal professionals work, enabling them to stay ahead of the curve in an increasingly competitive and dynamic legal landscape. With AI Legalese Decoder, legal professionals can streamline their workflow, improve accuracy, and ensure compliance with the latest regulatory requirements.
Speed-Dial AI Lawyer (470) 835 3425 FREE
FREE Legal Document translation
****** just grabbed a
Stealing toilet paper from work and drinking all the milk in the office.
You potentially have another 30 years of working. Screw the moderate risk; put everything in high risk and forget about it for 20 years.
Just pile as much in as you comfortably can and stick it in high growth or equivalent. If you want to get fancy, seek the lowest fee index option available.
You can’t beat the immediate return from tax savings.
Say you’re in the 30% bracket (32% including Medicare levy), you’ll get $68 in your pocket for every $100 you earn. Put it in super instead at 15% tax rate and get $85 to invest instead. It’s like an instant 25% investment return ($68 x 1.25 = $85). Even better if you’re in the 37% bracket.
I salary sacrifice + 100% equity allocation. Can’t do much more with it other than getting a better paying job!
Super is straight forward don’t have to overthink it:
– Low fees (< 0.1% annually ideally; dont get fooled into high growth etc that charge 0.6%)
– Equities, 70% international, 30% ASX indexed/passive
– Contribute when you can, you get some of it back on tax returns
Let the magic of compounding happen and come back in 30 years and enjoy.
I am nearly 51 and still have everything 100% high growth.
Super is making more per year than I am in my job, even without the contributions.
At 36, you should have it all in high growth and throw in as much as you can afford. The one thing you have at 36 is plenty of time for compounding. This is where you make the bulk of your return
You’re too young to not have it all in high growth.
Heck, I’m mid-50s and still have 100% in high growth. I’ll still have it in high growth when I’m 60 because I’m sure not planning to spend it all within 5 years.
I’m 100% in shares. Up 14.5% this year but ready to ride the waves. 35m with $207k in super.
At your age you should be all in ‘high risk’ as you have 20 years of time to smooth out the troughs with the peaks. I’m 45 and I have 100% high risk and will continue to do so for at least 10 more years.
Salary sacrifice up to the max concessional limit. I’ve been doing this since 2002 and of the just under $2m total amount I have (this figure includes a defined benefit) over $700k of that is due to that strategy.
When we go off a fixed home loan in November this year, we are selling down our non-super equities to put in offset, which will account for about 90% of the total loan value. Once we get 100% offset we will build up our outside-super asset base but will always max out concessional contributions.
I’m just making sure I hit the concessional cap every year, and have it in the high growth option
I’ve just reduced my super contributions to focus more on investments outside of super which will be used to retire before 60. I’m 42 and super is in high risk.
My favourite thing about the Super narrative is everyone reducing their quality of life while they’re young so that they can have money when they’re old if they make it to that age.
I have my entire portfolio in index shares, 70 Int 30 Aus. Or maybe 65 Int 35 Aus, can’t recall. I don’t contribute extra over the employer contribution. Returns have been excellent this year.
I am 37 with around 225k, so happy with where I am.
I moved here 2 years ago and due to having a UK pension that I can’t transfer into the Super I had to start from $0 at age 33.
Therefore, ive recently decided to aggressively add to my Super trying to hit the cap annual cap (the $27.5k/30k cap includes the employer guarantee right? Otherwise I’m not going to be close to hitting it). High risk as I’ll be working another 30 years so that’ll balance out (hopefully). Will see hope that goes.
Maxing the contributions cap every year and once we hit EOFY I’ll only have ~$6k left in carryover contributions available from the last 5 years due to some aggressive salary sacrifice for the last couple of years. Everything in 70% international/30% aus index.
Given I’ll only have ~$6k in carryover contributions left at EOFY, I’ll cancel my salary sacrifice arrangement then and combine it with the tax reform for a very healthy pseudo pay rise. I’m going to close out my carryover contributions at the end of next financial year, and in the meantime it’s time to start thinking about investments outside super.
Playing catch-up compared to where I could be as I was a sole trader during my 20s and contributed very little to super until late 20s.
Spent a few years working for myself and not paying super but now have a great job and I’m sacrificing $1k/fn to claw back the lost ground.
70% balanced and 30% high risk.
17% employer contribution, 7% after tax personal contribution
100% higher risk distributed over three asset options: 70/15/15
Will dial back the risk in 25 years when I feel like retiring is on the horizon. My retirement calculator puts me at a >100k draw down until (if) I’m 92 so it’ll be fine.
I try to max concessional contributions whenever I can.
Mostly invest in VAS, VEU and VTS via AusSuper Member Direct.
Maximise concessional contributions including unused CCs from the last 5 years while your balance is still under $500k
You should be in 100% high growth.
High risk is the wrong term for this stuff, at this age anything that’s not high growth is high risk to your retirement fund.
Work pays 13%… I salary sacrifice another 5% which brings me under the max cap. In high growth. 47 now
I maximise my contribution
The Barefoot Investor recommends upping your super contribution beyond the standard 11% of your salary to 15%.
But I’m in the APS (public service) so I get paid 15.4% by default. It’s still not as good as the old schemes though.
Looking at the fiscal situation of Australia, most on this sub are far too optimistic that the government won’t end up taxing super or screwing you out another way in the next 30 years
My retirement plan is to die before I stop working.