Why develop a superannuation income stream? People are becoming increasingly concerned about the future of their superannuation and with good reason because of our government’s record of changing the rules. This is why I advise building an income stream outside your normal super.
It is very likely that in the future you will receive your superannuation in the form of an annuity i.e. you will not get your superannuation in a lump sum but as a form of pension.
Read this excerpt from a story in “The Age”
‘Australians entering retirement will most likely be stopped from taking their superannuation as a lump sum and will have to access it through a structured self-funded pension, a top Treasury official says. ‘Treasury executive director and chief operating officer John Lonsdale signalled that recommendations for the financial system inquiry put forward to overhaul superannuation are likely to be adopted.’
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The most effective way to protect your capital and income from inflation and to avoid the effect of these ever changing rules is to build a superannuation income stream with a portfolio of residential properties making use of negative gearing and federal Government income tax incentive to create new housing. Whilst I call this “Real Superannuation” it is outside the restrictive and ever changing rules that govern the superannuation industry and provides a far greater “profit on funds employed”
Should you and/or your partner have a combined minimum of $220k in Super (Minimum deposit has been increased from 20% to 30%), a gross income of $70k p.a. and if Employer Super contribution is 9.5% – less if employer Super contribution is 13.5% and wish to build a residential property portfolio in a S.M.S.F. (Self Managed Super Fund), we are happy to assist in this regard. The total employer Super contribution needs to be $6,200.00 p.a. to totally service a Principal & Interest loan on a $500,000 residence.
Steve Taylor
Please contact our office to schedule a free consultation with Steve and find out more about setting up a superannuation income stream and to see if our service is suitable to your needs.
At the helm of Steve Taylor & Partners, Steve Taylor has been delivering expert advice and product knowledge to clients for over 30 years. Steve Taylor & Partners provide individuals, couples and families with the right strategies to create wealth and change their lives with solid bricks and mortar.
DISCLAIMER
Steve Taylor & Partners blog is opinion and not advice. Readers should seek their own professional advice on the subject being discussed. The figures stated in this article were accurate at the time of publication. For up to date figures, please contact our office.
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