Misconceptions around contributions to super - let's bust some myths!

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired on Friday 19 January 2024 with Leon Delaney. Thanks for joining us on 2CC or your favourite podcast streaming service. This week’s show considers some of the common misconceptions people have around making contributions to super. For most Australians, superannuation is the biggest investment outside of their own home. Given how tax effective super is, it pays to know what the rules are in order to make the most of it!
Key topics covered include:
The new year is a great time to think about your super and start making more of it.
There’s lot’s of misconceptions around super such as:
- You cannot make a contribution after you retire - that’s actually wrong, you can
- When you sell an asset, can I put it all into super - maybe you can, it depends on your situation
- I can only make a contribution to super in cash - no, you can transfer in assets to super if your fund allows it
- I want to put a lot of money into super, eg lotto win, inheritance, can I? - it depends on your situation
-I’m over 75, I can’t make a downsizer contribution - actually you can
Luke also shares his top tips around super contributions.
Are you thinking about making more of your own super?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement. Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.
Luke will return to 2CC to talk about other ‘Money Matters’ in a fortnight, after the Australia Day holiday. We look forward to your company again. Luke’s book Smart Money Strategy is out now. For more information visit: thestrategysta...
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[@jyekluske]

Wow some much gold information! Thanks heaps

[@thestrategystacker]

Glad it was helpful!