How do you feel about your account based pension? Do you believe this is a sufficient type of an income stream to protect your assets and income for remainder of your life?
HI Katherine, Please help me understand this. Say I have reached preservation age, and I convert my super accumulation account into an account based pension, which I believe is tax free. I choose 4% withdrawal rate and I receive 40k. I also have some personal share investment which pays me 15k a year inc franking credits. Since 15k is within the personal income tax free threshold, does that mean I pay ZERO income tax? Pretty good to have 55k income and pay no income tax. THANK YOU
This is the third of your series I have listened to and your ability to unravel the complexities of the system is outstanding. Before this, I read the information available on the government's website and managed to get some grasp of how it all works, but you have filled in so many gaps and made what they presented far easier to comprehend. I have tried to disassemble their rules on qualifying for the pension but living long term overseas, but the best I can come up with is that your freedom to do so is compromised by having to reside in Australia for two years either side of your date of commencement. Pretty onerous given we've all been stuck here for the past few years. If you're considering making another video on this topic I think many people would be interested in your explanation. Thanks for all you have presented: I look forward to watching the rest.
I'm also living oversees and receiving aged pension, my friend is also Australian living overseas and will apply for pension in 2025, but I cannot see anything about having to live in Australia for two years either side of your application, the only thing I can see on website is you must be in Australia on the day you apply , can you tell me where you saw the two years rule ? , thank you.
Hi kingdomfor1, the links are below. In the first they give general info (and is where they say your payment may stop in certain circumstances) and the second it gives the different effects of leaving for different durations and depending on how long you were an Australian resident prior to retirement. All the best! www.servicesaustralia.gov.au/travel-outside-australia-rules-for-age-pension?context=22526 www.servicesaustralia.gov.au/when-you-leave-australia-if-you-get-age-pension?context=22526
@@kingdomfor1 the big question could be the destination of your friend: does Australia have a social security agreement with the destination country? More info is below.
Another very helpful video, thanks again Katherine. But you really lost me when discussing super fund structures. I have never taken any interest in the global market (above my pay grade), but knowing the general state of world volatility in recent years, it seems to me that trying to control my own super investments would be a very time-consuming task, and would need to be adjusted almost daily. Thank you for answering my other questions, I have a much better understanding of how to manage a pension fund. Also, recently I completed my will and EPOA, and my solicitor helped me to adjust my super death benefit to a binding death benefit. I'm not sure people know about this.
Katherine, thank you so much for all your videos. They are very helpful. May I ask about pension fund, for me a 69 year old age Pensioner who's still working part time, if I switch my Super to pension fund , would Centrelink assess my pension fund at 60%, rather than 100% in my Super, under their asset test. In other words, would there be reduction in asset assessable by Centrelink due to this change? Thx so much! Leander
It all depends what type of the income stream you decide to invest into. Just because you move it to a pension fund does not provide the asset reduction. You really need a good advice on this topic.
Can you apply for a Centrelink pension if you have an account based pension? My total assets, including my SMSF is slightly under $451k. Will Centrelink look at the asset total or the income stream from the account based pension?
Hi Katherine. Thanks for. the video I am a 63 year old male with approx 900K in super accumulation and dont know whether to start a pension account or not. I dont have any debts and intend to keep working as long as I can. Im not sure whether to continue with accumulation, earning 7-8 percent or forego this for a tax free pension ., with money withdrawn from pension tax free and the returned to pension. Im also concerned about drawing down my super. Any advice would be much appreciated. Thank you Warwick
Thank you Katherine for this great video that has come at the right time for me as I will be leaving my employment and have had no idea what to do about my superannuation. What information do you require if someone needed help from you in this area?
Hi Kerry, thank you for watching. As it is a personal discussion, I would really suggest just to email me to katherine@aboutretirement.com.au and then we could have a more personal chat. I would most certainly need at least the very last statement of your fund and the current balance. this is the starting point. Hope to hear from you Kerry 😀
Is the gross asset value of my allocated pension treated as an asset for the age pension asset test? Is the income from the pension assessed by deeming or by the actual pension received?
Hi Tim, depending when you commenced your income stream, but if not that long ago, then yes you are correct, the full balance of allocated pension is counted under assets test and the income is calculated as deemed and not the actual received.
@@AboutRetirementTV Thanks Katherine. It seems a bit like double counting, which is why I asked. Thanks again for taking the time to answer my question.
If you have an account based pension but the asset total is below $400k is the argument for withdrawing the whole balance so that you can receive a maximum Centrelink pension or can you keep the account based pension and also receive the maximum Centrelink pension? Dennis’s
Thank you for your video. It seems like the pension is geared up to use all of the savings as you get older as it increases the % withdrawal rate over time. ( or does it even out because your balance gets smaller?) I wonder if there is a calculator for this....
Hi Rob, there are calculators, I am sure, but those pensions are designed for your life expectancy. The % goes up as we get older, but if your total balance gets smaller, you actually get a smaller income. So it is important to take out the minimum year after year, the best chance for funds to last as long as possible, subject to market performance as well. Lots of variables.
Due to my age (86) I am going to move into an apartment within walking distance of shops,Drs etc .i don’t want to sell my home just yet but will have to rent it to afford an apartment. The rent I receive will all go to the rent on the 😮apartment. At the moment I am assessed under the asset test. My question is will the rent I receive even though it will go to rent on the apartment be assessed as income under the income asset.
Hi Katherine, I have just started watching your videos. I turned 60 yrs just before the 21/22 financial year so I will now benefit from a tax free account based pension. Am I also entitled to the $18k tax free threshold for other income sources? Thanks, Rob.
Absolutely you are, $18K. You can receive whatever income you wish from your account based pension and earn additional income as well. Only earned extra income is subject to tax.
Hi Rob, yes you got it right. The account based pension is designed to last for your life expectancy. This is how most people could outlive their money.
Hi Katherine, I like how you explain points. I have a question?... say you're retired and in an allocated pension already., can you open up a 2nd super fund and use the 2nd as an accumulation fund? And at what age can you no longer contribute to any pension fund? Thanks 😊
I think this could be a great topic for another video as your question might require a longer explanation, so please be patient, I will prepare such a video especially for you 😀
Hi Katherine your video is very valuable. I am going to retire in three weeks time. I had my super in Commonwealth define benefit and salary sacrifice with PSSAP find. I need help with super and other assets. Can you help me.
Hi Katherine, as ABPs'are subject to market fluctuations, are there more secure and stable options available from which to choose. I have super in the PSSAP and am wondering if there is a more suitable option I can use. Thank you Shaun
Hi Shaun, there are annuities, please watch my videos explaining those income stream, also there are lifetime pensions, but they are very new to the market and with lots of traps that I really dislike. Your PSSAP super is a public super fund, might be a bit different to the usual for other employees, so needs to be checked what options you have available. If unsure, just organise a meeting with me, as this requires deeper conversation and more details.
Katherine, many thanks for your thoughtful reply, it is highly appreciated. I have booked a session with you in September (you are highly sought after, so I feel very fortunate !)
I reach preservation age in January 2023 and intend to permanently retire and wish to obtain an account based pension. Will I be able to take a lump sum from my pension? and would this be tax free?
Hi Katherine, great videos very informative and I will watch your video about investment risk in super. I have a general question, once preservation age is reached, do you have to turn your superannuation into an account based pension, or can it be left in its current investments and drawn down as required? Thankyou
Hi Roy, thank you, very happy that videos are helpful. After reaching your preservation age, the move to income stream is only optional, you can, but you don't have to turn your super to an income stream. Many people keep funds in super for live and there are many reasons behind such decision. But don't forget that super is always subject to up to 15% tax, while income streams NIL. I hope this helps
I wonder if it is best to leave the funds in the Accumulation Account and withdraw as needed, or, convert to Pension Account and be trickle fed according to stipulated percentage. Which one would be the best long term?
wow, this is a very good question, but considering super in accumulation phase pays 15% tax on earnings and in pension phase NIL, I prefer the pension version. Just because the money is paid out to you as an income, does not mean you have to spend it. there are some fantastic investments you can make with any income surplus, but why pay the tax, if you don't have to. 😀
@@AboutRetirementTV Hi Catherine, "Hadtobe" asked my very thought also. Why bother with pension if I can meter out what my wife and I need. The investment risk of the allocated pension seems concerning to go that way. As far as taxation goes even with the 15% tax the income is going to be just under (or about the same) as the maximum income before tax is paid ($18,200) so shouldn't be a concern. Right?
@@AboutRetirementTV Hi Katherine, plan to avail of TTR (still working Full time,just over 60yo), Say withdraw a max 10% from acct based pension (tax free) for next 2yrs, solely to payoff remaining mortgage, Q1. Will this affect my age pension entitlement when i turn 67yo assuming i qualify for Asset&Inc test? Q2. I'm with AusSuper, and have just moved/diversified the 80% component to cash due to recent market crash--to play safe at the moment -is this a good move? I can move thisback to 'balance' anytime. Q3. If for some reason I don't want to deplete the super, can I pull out of TTR any moment? Q4. Can I avail of Annuity/or any portfolio--that could provide the best guaranteed income for life? Thank you.
@@donflint9436 I don't pretend to be an expert in these matters so you will have to confirm my view. If you leave your Super money in accumulation the Super company will automatically deduct 15% of your earnings as tax. This is why the same investment in accumulation has a lower return as the equivalent investment in Income stream. This is how it is done in my Super. The $18200 you are referring to is for earnings outside of Super. When I looked into this matter I came to the conclusion that I will be better off leaving money in Income stream. Any money that is withdrawn from Super that is not spent needs to be invested in an appropriate manner. Keeping in mind the best option is to keep these earnings below $18200 as below this level it will be tax free. For what it is worth, that is my take!
Hi Katherine, what is you opinion on the idea of my wife and I combining our super into one account and therefore reduce the the fees that we have to pay for 2 seperate super accounts? Can this be done?
Hi Paul, superannuation accounts cannot be joint into one between people, and in most cases I don't believe this would bring a great deal of savings, and if it does, it means your super fund is very expensive altogether. but in general, there are other issues that are much more important from cost point of view, such as tax, especially death taxes, which most people underestimate or don't understand.
you can have an account based pension and still be eligible for Age Pension, but it all depends how much you have in your account based pension (assets test)
Hello, it appears that you are contradicting yourself when you mention the dangers and volatility of pension-based income streams, which is, as far as I can tell, a poor decision. Why continue to pay expensive fees to a super fund to keep your money? You say you wouldn't take the whole thing out in retirement, hmmmmmmmmmm? On today's rates, even in a term deposit, I'll gain roughly 5% on $500k, for a monthly return of $2300 per month of income without touching the principal! There are no costs, no risk, and complete flexibility to use the money however I see fit. You're supposed to be a financial advisor, right? You do the math. Can you please expound on your theory? I could think of no greater platform to explain it to your audience as I am very open to any cogent argument to make money. If there is no response, I think one can only infer you advise against it because you value your own purse over your audience's.
I am 67. I could work longer in my job as a carer but my company did not take any new clients during Covid and many carers left. So due to circumstances I had to retire. I have been living in Sydney for the past 11 years as I work as live in carer helping people to remain in their homes in old age. Wealthy people who can afford this. My unit in Adelaide is rented out. After covering expenses I got just over $100/week last year. Here in Sydney I live in cheaper accommodation as I have been saving for travelling which I am very pleased with. It seems that it doesn t make much difference if I live in my unit in Adelaide or here in Sydney. The age pension I receive is reduced very little. In super I only have just over 100.000 which I want to leave it there to pay for at least one overseas holiday a year with the interest I get. I can work but again my company does not have much work. Few hours. I hope it will be better. I already started to enjoy my retirement. The most important thing for me is to be able to travel. I don t eat take away, I don t go to restaurants and I have enough clothes for now. Which I treasure. I go to the gym and I eat as healthy as I can. I am proud of my achievements as I only started to work when I was 42 and paid off my unit in 16 years so I could now help my daughter buy a house with no deposit but using 1/3 of the equity in my house till they pay 20 percent off their home. I don t know if I could do better. My super is also a safety net if I need to get some money out. Thank you Kathrine. I love listening to your videos. Very informative. 🙏
How do you feel about your account based pension? Do you believe this is a sufficient type of an income stream to protect your assets and income for remainder of your life?
Thanks Katherine, much appreciated. Rob
HI Katherine,
Please help me understand this. Say I have reached preservation age, and I convert my super accumulation account into an account based pension, which I believe is tax free. I choose 4% withdrawal rate and I receive 40k.
I also have some personal share investment which pays me 15k a year inc franking credits. Since 15k is within the personal income tax free threshold, does that mean I pay ZERO income tax?
Pretty good to have 55k income and pay no income tax. THANK YOU
@@JamesDeanDiedIn1955 what a great question, and I think I might use it for one of my videos and explain the strategy, calculations and the outcome.
@@AboutRetirementTV great, look forward to video
This is the third of your series I have listened to and your ability to unravel the complexities of the system is outstanding. Before this, I read the information available on the government's website and managed to get some grasp of how it all works, but you have filled in so many gaps and made what they presented far easier to comprehend. I have tried to disassemble their rules on qualifying for the pension but living long term overseas, but the best I can come up with is that your freedom to do so is compromised by having to reside in Australia for two years either side of your date of commencement. Pretty onerous given we've all been stuck here for the past few years. If you're considering making another video on this topic I think many people would be interested in your explanation. Thanks for all you have presented: I look forward to watching the rest.
Thank you so very much. I will be creating even more videos about different income streams, 😀
I'm also living oversees and receiving aged pension, my friend is also Australian living overseas and will apply for pension in 2025, but I cannot see anything about having to live in Australia for two years either side of your application, the only thing I can see on website is you must be in Australia on the day you apply , can you tell me where you saw the two years rule ? , thank you.
Hi kingdomfor1, the links are below. In the first they give general info (and is where they say your payment may stop in certain circumstances) and the second it gives the different effects of leaving for different durations and depending on how long you were an Australian resident prior to retirement.
All the best!
www.servicesaustralia.gov.au/travel-outside-australia-rules-for-age-pension?context=22526
www.servicesaustralia.gov.au/when-you-leave-australia-if-you-get-age-pension?context=22526
@@kingdomfor1 the big question could be the destination of your friend: does Australia have a social security agreement with the destination country? More info is below.
Great information and simple to understand Thank you
You are brilliant. Thank You. Great research work. Sending 💕.
I believe get advice and set up correct account.
I think taking it all out from Super,
How does account base pension affect my age pension?
Another very helpful video, thanks again Katherine. But you really lost me when discussing super fund structures. I have never taken any interest in the global market (above my pay grade), but knowing the general state of world volatility in recent years, it seems to me that trying to control my own super investments would be a very time-consuming task, and would need to be adjusted almost daily.
Thank you for answering my other questions, I have a much better understanding of how to manage a pension fund.
Also, recently I completed my will and EPOA, and my solicitor helped me to adjust my super death benefit to a binding death benefit. I'm not sure people know about this.
Katherine, thank you so much for all your videos. They are very helpful.
May I ask about pension fund, for me a 69 year old age Pensioner who's still working part time, if I switch my Super to pension fund , would Centrelink assess my pension fund at 60%, rather than 100% in my Super, under their asset test. In other words, would there be reduction in asset assessable by Centrelink due to this change?
Thx so much!
Leander
It all depends what type of the income stream you decide to invest into. Just because you move it to a pension fund does not provide the asset reduction. You really need a good advice on this topic.
Can you apply for a Centrelink pension if you have an account based pension? My total assets, including my SMSF is slightly under $451k. Will Centrelink look at the asset total or the income stream from the account based pension?
Great information, thank you
Hi Katherine. Thanks for. the video I am a 63 year old male with approx 900K in super accumulation and dont know whether to start a pension account or not. I dont have any debts and intend to keep working as long as I can. Im not sure whether to continue with accumulation, earning 7-8 percent or forego this for a tax free pension ., with money withdrawn from pension tax free and the returned to pension. Im also concerned about drawing down my super. Any advice would be much appreciated. Thank you Warwick
Thank you Katherine for this great video that has come at the right time for me as I will be leaving my employment and have had no idea what to do about my superannuation. What information do you require if someone needed help from you in this area?
Hi Kerry, thank you for watching. As it is a personal discussion, I would really suggest just to email me to katherine@aboutretirement.com.au and then we could have a more personal chat. I would most certainly need at least the very last statement of your fund and the current balance. this is the starting point. Hope to hear from you Kerry 😀
Is the gross asset value of my allocated pension treated as an asset for the age pension asset test? Is the income from the pension assessed by deeming or by the actual pension received?
Hi Tim, depending when you commenced your income stream, but if not that long ago, then yes you are correct, the full balance of allocated pension is counted under assets test and the income is calculated as deemed and not the actual received.
@@AboutRetirementTV Thanks Katherine. It seems a bit like double counting, which is why I asked. Thanks again for taking the time to answer my question.
If you have an account based pension but the asset total is below $400k is the argument for withdrawing the whole balance so that you can receive a maximum Centrelink pension or can you keep the account based pension and also receive the maximum Centrelink pension? Dennis’s
Thank you for your video. It seems like the pension is geared up to use all of the savings as you get older as it increases the % withdrawal rate over time. ( or does it even out because your balance gets smaller?) I wonder if there is a calculator for this....
Hi Rob, there are calculators, I am sure, but those pensions are designed for your life expectancy. The % goes up as we get older, but if your total balance gets smaller, you actually get a smaller income. So it is important to take out the minimum year after year, the best chance for funds to last as long as possible, subject to market performance as well. Lots of variables.
Due to my age (86) I am going to move into an apartment within walking distance of shops,Drs etc .i don’t want to sell my home just yet but will have to rent it to afford an apartment. The rent I receive will all go to the rent on the 😮apartment. At the moment I am assessed under the asset test. My question is will the rent I receive even though it will go to rent on the apartment be assessed as income under the income asset.
Hi Katherine, I have just started watching your videos. I turned 60 yrs just before the 21/22 financial year so I will now benefit from a tax free account based pension. Am I also entitled to the $18k tax free threshold for other income sources? Thanks, Rob.
Absolutely you are, $18K. You can receive whatever income you wish from your account based pension and earn additional income as well. Only earned extra income is subject to tax.
Thank you for the video. It seems like the % of minimum withdrawal increases over time. Is it set up to use all of your money over retirement?
Hi Rob, yes you got it right. The account based pension is designed to last for your life expectancy. This is how most people could outlive their money.
Where is the payment cuming from? The principle balance of the super account or the investment return?
Hi Katherine, I like how you explain points. I have a question?... say you're retired and in an allocated pension already., can you open up a 2nd super fund and use the 2nd as an accumulation fund? And at what age can you no longer contribute to any pension fund? Thanks 😊
I think this could be a great topic for another video as your question might require a longer explanation, so please be patient, I will prepare such a video especially for you 😀
@@AboutRetirementTV aw just for me 😆 yes I think will be a good video. I'm loving you videos to date. 😊😊🙏
Hi Katherine your video is very valuable. I am going to retire in three weeks time. I had my super in Commonwealth define benefit and salary sacrifice with PSSAP find. I need help with super and other assets. Can you help me.
Hi Katherine, as ABPs'are subject to market fluctuations, are there more secure and stable options available from which to choose. I have super in the PSSAP and am wondering if there is a more suitable option I can use. Thank you Shaun
Hi Shaun, there are annuities, please watch my videos explaining those income stream, also there are lifetime pensions, but they are very new to the market and with lots of traps that I really dislike. Your PSSAP super is a public super fund, might be a bit different to the usual for other employees, so needs to be checked what options you have available. If unsure, just organise a meeting with me, as this requires deeper conversation and more details.
Katherine, many thanks for your thoughtful reply, it is highly appreciated. I have booked a session with you in September (you are highly sought after, so I feel very fortunate !)
@@shaunbrowne5139 I am looking forward to speaking with you then 😀
I reach preservation age in January 2023 and intend to permanently retire and wish to obtain an account based pension. Will I be able to take a lump sum from my pension? and would this be tax free?
Hi Katherine, great videos very informative and I will watch your video about investment risk in super. I have a general question, once preservation age is reached, do you have to turn your superannuation into an account based pension, or can it be left in its current investments and drawn down as required? Thankyou
Hi Roy, thank you, very happy that videos are helpful. After reaching your preservation age, the move to income stream is only optional, you can, but you don't have to turn your super to an income stream. Many people keep funds in super for live and there are many reasons behind such decision. But don't forget that super is always subject to up to 15% tax, while income streams NIL. I hope this helps
@@AboutRetirementTV thanks Katherine, very helpful
I wonder if it is best to leave the funds in the Accumulation Account and withdraw as needed, or, convert to Pension Account and be trickle fed according to stipulated percentage.
Which one would be the best long term?
wow, this is a very good question, but considering super in accumulation phase pays 15% tax on earnings and in pension phase NIL, I prefer the pension version. Just because the money is paid out to you as an income, does not mean you have to spend it. there are some fantastic investments you can make with any income surplus, but why pay the tax, if you don't have to. 😀
@@AboutRetirementTV Hi Catherine, "Hadtobe" asked my very thought also. Why bother with pension if I can meter out what my wife and I need. The investment risk of the allocated pension seems concerning to go that way.
As far as taxation goes even with the 15% tax the income is going to be just under (or about the same) as the maximum income before tax is paid ($18,200) so shouldn't be a concern. Right?
@@AboutRetirementTV Hi Katherine, plan to avail of TTR (still working Full time,just over 60yo), Say withdraw a max 10% from acct based pension (tax free) for next 2yrs, solely to payoff remaining mortgage,
Q1. Will this affect my age pension entitlement when i turn 67yo assuming i qualify for Asset&Inc test?
Q2. I'm with AusSuper, and have just moved/diversified the 80% component to cash due to recent market crash--to play safe at the moment -is this a good move? I can move thisback to 'balance' anytime.
Q3. If for some reason I don't want to deplete the super, can I pull out of TTR any moment?
Q4. Can I avail of Annuity/or any portfolio--that could provide the best guaranteed income for life? Thank you.
@@donflint9436 Hi Don, I am interested in the answer to your question. Did you get an answer on this?
@@donflint9436 I don't pretend to be an expert in these matters so you will have to confirm my view.
If you leave your Super money in accumulation the Super company will automatically deduct 15% of your earnings as tax. This is why the same investment in accumulation has a lower return as the equivalent investment in Income stream. This is how it is done in my Super. The $18200 you are referring to is for earnings outside of Super.
When I looked into this matter I came to the conclusion that I will be better off leaving money in Income stream. Any money that is withdrawn from Super that is not spent needs to be invested in an appropriate manner. Keeping in mind the best option is to keep these earnings below $18200 as below this level it will be tax free.
For what it is worth, that is my take!
What is the address
Hi Katherine, what is you opinion on the idea of my wife and I combining our super into one account and therefore reduce the the fees that we have to pay for 2 seperate super accounts? Can this be done?
Hi Paul, superannuation accounts cannot be joint into one between people, and in most cases I don't believe this would bring a great deal of savings, and if it does, it means your super fund is very expensive altogether. but in general, there are other issues that are much more important from cost point of view, such as tax, especially death taxes, which most people underestimate or don't understand.
Can allocated pension entitle of age pension?
you can have an account based pension and still be eligible for Age Pension, but it all depends how much you have in your account based pension (assets test)
Hello, it appears that you are contradicting yourself when you mention the dangers and volatility of pension-based income streams, which is, as far as I can tell, a poor decision. Why continue to pay expensive fees to a super fund to keep your money? You say you wouldn't take the whole thing out in retirement, hmmmmmmmmmm?
On today's rates, even in a term deposit, I'll gain roughly 5% on $500k, for a monthly return of $2300 per month of income without touching the principal! There are no costs, no risk, and complete flexibility to use the money however I see fit. You're supposed to be a financial advisor, right? You do the math. Can you please expound on your theory?
I could think of no greater platform to explain it to your audience as I am very open to any cogent argument to make money. If there is no response, I think one can only infer you advise against it because you value your own purse over your audience's.
I am 67. I could work longer in my job as a carer but my company did not take any new clients during Covid and many carers left.
So due to circumstances I had to retire.
I have been living in Sydney for the past 11 years as I work as live in carer helping people to remain in their homes in old age.
Wealthy people who can afford this.
My unit in Adelaide is rented out. After covering expenses I got just over $100/week last year.
Here in Sydney I live in cheaper accommodation as I have been saving for travelling which I am very pleased with.
It seems that it doesn t make much difference if I live in my unit in Adelaide or here in Sydney.
The age pension I receive is reduced very little.
In super I only have just over 100.000 which I want to leave it there to pay for at least one overseas holiday a year with the interest I get.
I can work but again my company does not have much work. Few hours.
I hope it will be better.
I already started to enjoy my retirement.
The most important thing for me is to be able to travel.
I don t eat take away, I don t go to restaurants and I have enough clothes for now.
Which I treasure.
I go to the gym and I eat as healthy as I can.
I am proud of my achievements as I only started to work when I was 42 and paid off my unit in 16 years so I could now help my daughter buy a house with no deposit but using 1/3 of the equity in my house till they pay 20 percent off their home.
I don t know if I could do better.
My super is also a safety net if I need to get some money out.
Thank you Kathrine.
I love listening to your videos.
Very informative.
🙏