Understanding Australia’s Age Pension income tests

Australia’s Age Pension is intended to protect seniors from living in poverty if they have no resources of their own to use. However, the amount of Age Pension payable is reduced from the full rate if the senior has assets or other income above certain levels.

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The magic of compound interest and other financial concepts

There’s more to life than money, but understanding some basic concepts helps lay the foundations for a lifetime of learning that helps you better manage your financial affairs.

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New Index helps to understand finances in retirement

The YourLifeChoices Retirement Affordability Index aims to help you understand how much money you currently need to live at various levels and lifestyles in retirement. In this issue, there’s a review of the impact of longevity on retirement.

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Before you retire overseas, make sure you do your research

A growing number of people are retiring outside of Australia, with some Asian countries being popular choices. For some, it’s because the cost of living is much lower there. Others are moving back to where they lived during an earlier phase of life.

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Help in understanding the Australian assets test for the age pension

Centrelink uses a process that assesses both your assets and your income and whichever test reduces your age pension rate the most is what is means tested. In other words, the test that hits you the hardest is the means test applied.

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What you need to know about Australia’s Age Pension

Australia’s Age Pension, with pensioner discounts, is intended to finance a basic standard of living for people who have retired because of disability or old age. The objective of the system is to provide a basic standard of living. It isn’t intended as a means of accruing wealth.

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What will drive future investment returns in Australia?

Having recently travelled overseas, I couldn’t fail to appreciate how small and largely insignificant Australia is in the investment world. But the key drivers of future investment returns for Australian investors are collectively classified as global themes.

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Planning for the unexpected: How insurance can help

‘No debt should last longer than the person who created it.’ That comment from Jim Prigg—CEO of Knowledgemaster Pty Ltd—made me think about the importance of planning for the unexpected.

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How Centrelink sees singles and couples for pensions in Australia

With the Age Pension, payment rates and means testing arrangements are different for ‘members of a couple’ and ‘single’ people. ‘Homeowners’ and ‘non-homeowners’ also have different means-tested allowances.

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A 5-step financial timeline for retirement

How soon should you start saving for retirement? Answer: The earlier the better. And there are figures that confirm that. There is a well-recognised process leading up to retirement. What follows is an adaptation of a number of countdown steps for finances that I used in my book ‘Retirement Ready?’.

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Retire Notes