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004 Using your Super to pay your Mortgage

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Manage episode 483796606 series 3664125
Content provided by Nathan Fradley, Jordan Vaka, Nathan Fradley, and Jordan Vaka. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Nathan Fradley, Jordan Vaka, Nathan Fradley, and Jordan Vaka or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
In this episode, Nathan Fradley and Jordan Varka explore the complex decision of whether to pay off a mortgage using superannuation. This is a common question for financial advisers, balancing the financial aspects: the fundamentals of superannuation, preservation age, tax implications, and with the personal and emotional considerations such as work stress or financial pressure or lifestyle creep. The conversation emphasizes the need for professional advice due to the nuanced nature of these financial strategies, particularly in relation to Centrelink and pension phase. takeaways
  • Understanding your own financial circumstances is crucial.
  • Superannuation is a tax structure designed for retirement savings.
  • The tax rate within super is significantly lower than personal tax rates.
  • Decisions should not be made solely based on tax benefits.
  • Accessing superannuation is subject to preservation age rules.
  • Employment status affects access to superannuation funds.
  • Converting super to a pension can have tax implications.
  • Personal feelings and financial stress play a significant role in decision-making.
  • Centrelink assessments can impact superannuation strategies for couples.
  • Professional advice is essential for navigating complex financial decisions.
  continue reading

6 episodes

Artwork
iconShare
 
Manage episode 483796606 series 3664125
Content provided by Nathan Fradley, Jordan Vaka, Nathan Fradley, and Jordan Vaka. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Nathan Fradley, Jordan Vaka, Nathan Fradley, and Jordan Vaka or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
In this episode, Nathan Fradley and Jordan Varka explore the complex decision of whether to pay off a mortgage using superannuation. This is a common question for financial advisers, balancing the financial aspects: the fundamentals of superannuation, preservation age, tax implications, and with the personal and emotional considerations such as work stress or financial pressure or lifestyle creep. The conversation emphasizes the need for professional advice due to the nuanced nature of these financial strategies, particularly in relation to Centrelink and pension phase. takeaways
  • Understanding your own financial circumstances is crucial.
  • Superannuation is a tax structure designed for retirement savings.
  • The tax rate within super is significantly lower than personal tax rates.
  • Decisions should not be made solely based on tax benefits.
  • Accessing superannuation is subject to preservation age rules.
  • Employment status affects access to superannuation funds.
  • Converting super to a pension can have tax implications.
  • Personal feelings and financial stress play a significant role in decision-making.
  • Centrelink assessments can impact superannuation strategies for couples.
  • Professional advice is essential for navigating complex financial decisions.
  continue reading

6 episodes

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