Salvage Your Super E-Book

Geoff Peck

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 271

Veröffentlichungsjahr: 2012

Beschreibung

The recent stock market crash saw a staggering $200 billion wiped off superannuation balances. Fortunately, you can do something about it. Salvage Your Super is a comprehensive guide to making the most of your super and retirement assets, regardless of your age or income. It offers sound advice on what to do with your super depending on your financial profile, and provides tangible solutions to help retirees reverse the recent downtreand in their funds without selling the farm. Inside you'll discover: * how to calculate how much you will need in retirement to live the life you want * age-specific tactics (whether you're in your 20s, 30s, 40s, 50s or 60s, or you're post-retirement) to get your super back on track * accessible, easy-to-implement strategies that are appropriate for both now and the future * how to maximize your returns and minimise fees and tax. So don't just sit back and wait for things to get better -- read this book and salvage your super!

Leseprobe

Contents

About the Author

Acknowledgements

Preface

Chapter 1: The Four Things that Really Make Super Work

Time

Type of Investment

Tactics

Tariffs

Chapter 2: Your Superannuation Investment Profile

How Much Will you Need?

How Long Does it Have to Last?

When Will you Retire?

Where Are you Now?

Where is Your Superannuation?

How Much Risk Can you Handle?

It’s Not Just About you

Help is Available

Where to From Here?

Chapter 3: Where to From Here—in Your 20s or 30s

Understand the Journey

Strategy 1: Consolidation and Fee Management

Strategy 2: Choose Your Investment Option

Strategy 3: Make Small Regular Additional Contributions

Strategy 4: Get More Out of Your Superannuation

Strategy 5: Plan to Deal with Periods of No Contributions

Summary of Strategies

Plan B

The Next Step

Chapter 4: Where to From Here—From 40 to 55

Understand the Journey

Strategy 1: Consolidation and Fee Management

Strategy 2: Choose your Investment Option

Strategy 3: Make Regular Additional Contributions

Strategy 4: Delay Retirement

Strategy 5: Get Advice

Strategy 6: Bank Your Winnings

Strategy 7: Get More Out of Your Superannuation

Strategy 8: Plan to Deal with Periods of No Contributions

Summary of Strategies

Plan B

The Next Step

Chapter 5: Where to From Here—From 55 to Retirement

Understand the Journey

Strategy 1: Consolidation and Fee Management

Strategy 2: Choose Your Investment Option

Strategy 3: Make Regular Additional Contributions

Strategy 4: Delay Retirement

Strategy 5: Transition to Retirement Tax Strategy

Strategy 6: Get Advice

Strategy 7: Bank Your Winnings

Strategy 8: Get More Out of Your Superannuation

Summary of Strategies

Plan B

The Next Step

Chapter 6: Where to From Here—Retirement and Beyond

Understand the Journey

Work Out the Gaps

Strategy 1: Choose Your Investment Option

Strategy 2: Accessing Equity from Residential Property

Strategy 3: Go On—Have a Red Hot Go!

Strategy 4: Get Advice

Case study—Tony and Margaret

Case study—Aldo and Anna

Case study— Frida

The Next Step

Chapter 7: Don’t Lose it Again

Reviewing Your Investments

Getting Advice—the Right Way

Chapter 8: Generating Retirement Income

Risk Management

Diversification of Risk

Compounding Risk

Myopic Vision

Debt and Gearing

Options for Controlling Risk

Chapter 9: How to Keep the Baby When you Throw Out the Bath Water

Do Something. . . Anything

To Be or Not to Be. . . a Market Timer

Have We Seen This Before?

Economic Forecasting

Rule 1 : Forecasts by Definition Will be Wrong

Rule 2: Never Change a Forecast Unless you Have To

Rule 3: Only Forecast Things That Don’t Need to Be Forecasted

Rule 4: The Best Forecast is the One That is the Least Wrong

Defensive and Growth Assets

Cash

Fixed Interest

Property and Equities

The Future Remains Full of Possibility

Your Superannuation is Your Money

Index

First published 2009 by Wrightbooks

an imprint of John Wiley & Sons Australia, Ltd

42 McDougall Street, Milton Qld 4064

Office also in Melbourne

© Geoff Peck 2009

The moral rights of the author have been asserted

National Library of Australia Cataloguing-in-Publication entry:

Author: Peck, Geoff.

Title: Salvage your super: Money-making strategies for financing your future—at any age / Geoff Peck.

ISBN: 9781742169477 (pbk.)

Notes: Includes index.

Subjects: Finance, Personal—Australia.

Finance, Personal—Planning.

Saving and investment—Australia.

Stocks—Australia.

Investments—Australia.

Dewey Number: 332.0240994

All rights reserved. Except as permitted under the Australian Copyright Act 1968 (for example, a fair dealing for the purposes of study, research, criticism or review), no part of this book may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means without prior written permission. All inquiries should be made to the publisher at the address above.

Cover design by Studio 131

Cover images©iStockphoto.com/hidesy and iStockphoto.com/LPETTET.

Disclaimer

The material in this publication is of the nature of general comment only, and does not represent professional advice. It is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not take action on any matter which it covers. Readers should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based upon the information in this publication.

About the author

Geoff Peck has worked in the Australian superannuation industry since 1985. In that time he has held senior roles in product development, administration, distribution and general management, culminating in the role of Head of Superannuation Solutions for BT Financial Group, which manages superannuation and pension assets of more than $14 billion.

Geoff has extensive experience in all areas of superannuation, life insurance and investment and is committed to helping people to better understand their superannuation arrangements and thereby maximise its value.

Geoff retired from full-time work in 2006 to spend more time with his young children and be actively involved in the most ‘fun’ part of their upbringing. Recently relocated to a seaside town on the far north coast of New South Wales, Geoff now has a role as a non-executive director for a life insurance company and is an active campaigner for the Smith Family’s financial literacy program.

Acknowledgements

Throughout this book I have used data and charts that have been provided by some good friends within the superannuation industry: Warren Chant and Andrea West from ChantWest Financial Services; Michael Rice from Rice Warner; Linda Elkins from Russell Investments; Nicolette Rubinsztein from Colonial First State; and Michaela Mc-Glynn and Chris Caton from BT Financial Group. I would like to thank all of them for the help and support that they have provided.

Special thanks must also go to Melinda Howes for all of her great suggestions on the early drafts and to Mary Masters for helping me through the process of writing this book.

Preface

This is a little book about super, but more importantly it is a book about super that has been written after one of the most disastrous periods for investment markets. The Global Financial Crisis will have after-effects that take years to work through our investments and this event has had an important impact on our superannuation balances.

This book should be able to help make some sense of those impacts, and also help with some strategies to get your super working again. If you were lucky enough not to have been affected by the Global Financial Crisis, there are some great ideas on how to capitalise on opportunities that have been created as a result of investment markets being revalued.

While 2008 was important in many ways, it is a year that should also be thought of as simply part of the investment cycle. There is good news here as well as some telling lessons. My own situation and experience has some bearing on why this book was written. I have worked for over 20 years in the superannuation industry and I retired from full-time work in 2006. Prior to retiring I was the Head of Superannuation for BT Financial Group—one of the largest providers of superannuation and investment products in the country. I now work part time as a non-executive director of a life insurance company while bringing up my two young children.