Complex and essential, an effective superannuation strategy is a must. DFS can advise you on options to suit your current situation while also keeping your long-term lifestyle plans in mind. We’ll assist you to review and consolidate your current super funds and structure tax effective contribution strategies such as such as salary sacrifice, spouse contributions, government co-contributions and  ‘transition to retirement’.

Self Managed Super Funds are sometimes referred to ‘DIY Super Funds’. They allow you to have greater control and flexibility over your investments and your investment strategy. They allow you the flexibility to invest in investments that may not be available through a retail superannuation fund. With a Self Managed Super Fund, you are the trustees of the fund.  While there are a number of benefits to running your own fund you also need to be aware of your role and responsibility as a trustee. This may not suit everyone but we can advise you if this structure is appropriate for you.

Allocated pensions An allocated pension is designed to give retirees regular tax effective income stream from their superannuation.  Earnings within your allocated pension are tax free which makes it a very attractive strategy. While some allocated pensions allow you the flexibility to vary your income stream and make lump sum withdrawals, other are less flexible but may allow you to access more Age Pension.
Annuities An immediate annuity is an investment product that allows you to use a lump sum to provide you with a regular, guaranteed income over a specified term ranging from 1 year to 25 years and even a lifetime. It allows you to use a lump sum amount from either personal savings or superannuation money. The income you receive will depend on how much money you initially invest and the frequency of your payments each year. The interest rates you receive are generally set at the time of investment and will not change over the period of the annuity.

A reverse mortgage allows someone aged 60 or over to borrow money against the value of their home. It usually only needs to be repaid when you sell the house, permanently move out (such as to go into long-term aged care) or die.

Reverse mortgages work in the opposite way to home loans. Instead of the loan sum diminishing because of your repayments, interest is applied to your loan so the debt increases. You're not required to make any repayments but the impact of fees and interest means the debt grows over time. At current interest rates, the amount you owe would double in less than 10 years.

The idea that senior Australians can utilise their home equity by borrowing against it and only paying it back upon death or leaving the home permanently has become more and more attractive as retirees, who are asset rich but cash poor, turn to this source of funds. The amount borrowed can be used to supplement retirement income.

With the right advice, you can increase your retirement income. It can be a balancing act between the amount of assets you have and the income that Centrelink “deems” you to be earning. DFS can assist you to potentially increase your Centrelink entitlements through a carefully constructed financial plan to reach the optimum Age Pension you would be entitled to.