Account Based Pension – How do you turn super into a retirement income?
Luke Smith joined Richard Perno on Radio Station 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 5 October 2018.
Luke and Richard continued the conversation about retirement planning and how to you can turn super into a retirement income.
Topics covered include:
- What is the different between the accumulation phase and the pension phase?
- Steps to think about when your planning your retirement before you leave the workforce, including: What income you need? How you can generate it? When you need it?
- What is an account based pension?
- How much income can you take? Can you take a lump sum?
- How does an account based pension work and how much income can I take from it?
- Can you splurge in retirement on a holiday or new car?
- What happens can I add money to my account based pension if I receive an inheritance?
- Seek planning for retirement advice so you make the most of your options. It pays to start sooner than later. With more time on your side you have more options.
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When do you want to switch on your retirement?
If you need financial advice, make an appointment to meet Luke at Envision Financial Services on 02 6260 4749 or use our contact us form to make an appointment for a confidential discussion about your situation.
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