Australians are taking more mortgage debt into their 60s than ever before. Retirement planning assumptions haven’t adapted, meaning that future income projections could disappoint retirees.
SMSF trustees are required to value all fund assets, including property, at market value when preparing the fund's financial statements each year. Here are some key tips to ensure that you get it right.
The rules to age successfully include, 'the unexamined life lasts longer', 'change no more than one-eighth of your life at a time', 'nobody is thinking about you', and 'pursue virtue but don’t sweat it'.
A big age gap can make it harder to find a solution that works for both partners—financially and otherwise. Having a frank conversation about the future, and having it as early as possible, is essential.
Use the Morningstar retirement model to come up with a retirement plan that estimates the amount you need to retire and the variables that will impact future outcomes.