New SECURE 2.0 optional provisions would allow plan participants to make penalty-free withdrawals from their retirement savings. Although circumstances may vary, this would allow an avoidance of the 10% penalty fee. Read our recent blog below to learn more -> https://hubs.ly/Q02G12Py0
Multnomah Group, Inc.’s Post
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Did you know? According to Morningstar's recent article, data from the Class Benchmark Report reveals 12% of #SMSF members aged 65+ are missing out on the 0% tax rate in retirement, while half of APRA fund members over 65 haven't transitioned their super to pension, representing an estimated $225 billion. Learn how Transition-to-Retirement strategies can boost your saving. Access the full report: https://bit.ly/44NPhgD
How to get a 0% tax rate on super sooner
morningstar.com.au
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Every age has a different set of spending needs. Find out how to tax efficiently use your retirement savings in your 60s. https://lnkd.in/em5CuV8b
How much to take out of your RRSP in your 60s - MoneySense
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Five tips to help stop inflation damaging your retirement spending power For more information, read the article below: https://lnkd.in/eGCdQRN2 The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
Five tips to stop inflation damaging your retirement spending power
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There are many options when it comes to how you access your retirement savings. Your financial needs in retirement can change but you can have a combination of options to offer the flexibility you need. Discuss your options with a financial adviser to help you put in place what’s right for you. Click here to find out more: https://bit.ly/3ZFC48x
Your options for accessing your pension
partnership.sjp.co.uk
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Striking a harmonious equilibrium between meeting immediate obligations and safeguarding retirement savings is key. "While it is natural to desire to support your children, it is also essential to find a balance between providing assistance and maintaining your financial security. You can help your children while ensuring it doesn't jeopardise your retirement savings." Great tips by Joan Kibata #personalfinance #retirementplanning https://lnkd.in/daxSXW9P
Don’t drain your pension to support adult children
businessdailyafrica.com
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It is always a good idea to save money. But depending on your age and personal circumstances, where you should save that money can be different from person to person. In this blog post I discuss the counterintuitive idea that there are times when contributing to a retirement account may not be in your best interest. https://lnkd.in/gwg4J_xp
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In light of the Treasury's recent release of a discussion paper addressing retirement phase regulation, David Bell and Geoff Warren from The Conexus Institute advocate for the facilitation of an economical trustee-directed mechanism. This, they contend, would enable all members of super funds to access valuable retirement guidance. For more insights into their proposal, keep reading. https://lnkd.in/guTiXzGy #investmentmagazine #theconexusinstitute
Fund trustees directing members to retirement solutions is the missing link - Investment Magazine
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As super funds take on a bigger role in financial advice, moneyGPS will roll out a white label product to help mitigate the impact of a lagging response to the retirement income covenant. The move comes as rivals in the fledgling digital advice market have failed or been acquired. George Haramis FIDUCIARY FINANCIAL SERVICES #australia #financialindustry #financialservices #financialadvice #retirement #superfunds #digital
‘Feel for them’: Digital advice pioneer pivots to super funds - Professional Planner
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An IPP offers a robust alternative to the more common registered retirement savings plan (RRSP). But what exactly is an IPP, and why is it worth a spot in the financial strategies of a seasoned entrepreneur? https://lnkd.in/gW_cSSUz
The power of individual pension plans compared to RRSPs
financialpost.com
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Many aspects affect your retirement income strategy, such as staying in the lowest tax bracket possible, reallocating your funds into assets with more or less risk, and determining the best age to begin taking Social Security payments. Throwing a wrench into your careful planning are Required Minimum Distributions, otherwise known as RMDs. #RMDs #FinancialAdvice #RetirementPlanning #RetirementAdvisors #IRA #Roth #401K
Secure 2.0 and Your Retirement: Navigating Changes in RMDs
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