Super splitting may help your spouse retire sooner!
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 7 August 2020 and the topic: Super splitting strategy.
Financial Planner Luke Smith joins 2CC to explore a very beneficial but highly under-utilised financial planning strategy called super splitting. We all know whay superannuation is, but why would you split your super with your spouse? In this episode Luke shares his thoughts around how the super splitting works and how it might help you achieve your goals. And remember, seek advice before you start!
Key highlights include:
- What is super splitting?
- An example of how it can work, where one spouse is older than the other
- How much can you super split with your spouse?
- Why would you do it? It may help the younger spouse retire sooner!
- You only get to do this once each year – it’s not something you can do for previous years
- How and when should super splitting be done?
- What are the benefits of this strategy in your retirement planning?
- How does it work with carried forward concessional super contributions?
- How can it impact the transfer balance cap or help you avoid it?
- There are a number of goals this strategy can help you achieve – with examples!
- Check your fund to see if they offer super splitting.
- An offer for a free appointment to talk about your own financial planning goals and objectives. Everyone has different goals and personal financial planning advice can help you achieve them more effectively.
Listen to the Podcast right now
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Would you like to explore if the super splitting strategy is right for you?
Are there some personal, lifestyle or retirement goals you’d like to achieve? Envision Financial can help you set and work towards your own financial goals and help you better manage your financial well-being. We’re very pleased to let you know that we’ve returned to the office for appointments. Make an appointment to catch up with Luke face to face, over the phone or via video appointment.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your own life goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm for the 101th show. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.