SRS Advice | 2021 May

Learning the lessons of 2020: An extraordinary year

Posted at 20 May 2021 in General Interest by Strategic Retirement Solutions

When the COVID-19 pandemic hit Australia in March 2020 it brought immediate and severe financial gloom. Shares plunged 37% and the economy slumped to its first recession in nearly 30 years. However against that backdrop, 2020 turned out far better for diversified investors than initially...

A family affair: Children, super contributions and SMSFs

Posted at 20 May 2021 in General Interest, Superannuation by Strategic Retirement Solutions

The potential increase in members from four to six a in self-managed fund has led to many to consider about whether it is worthwhile to have children as members of the parents’ or ‘family’ SMSF. The options are: should the kids join the fund, have...

Why insurance is important: real benefits for you and your family

Posted at 20 May 2021 in General Interest by Strategic Retirement Solutions

Insurance plays a central role in providing financial security for you and your family when it’s needed most. You insure your car and your home. But nothing is more important than your life and your ability to make a living. So it makes good sense to...

Transfer balance cap set to increase to $1.7 million

Posted at 20 May 2021 in General Interest, Superannuation, Technical Updates by Strategic Retirement Solutions

The amount of super savings that can be transferred into a retirement pension (whether you have one or more than one) will increase from $1.6 million to $1.7 million on 1 July this year, but not for everyone. Currently you can transfer a maximum of $1.6...

Saving for your child’s future

Posted at 20 May 2021 in General Interest by Strategic Retirement Solutions

As every parent knows (even before they become one), raising a child isn’t cheap. And those expenses don’t necessarily stop once they reach 18. Parents often hope to help their adult children with significant financial milestones in life too. In this article we look at some...

Good news – Super contribution caps to rise

Posted at 20 May 2021 in General Interest, Superannuation, Technical Updates by Strategic Retirement Solutions

On 1 July 2021, both the concessional and non-concessional superannuation contribution limits, also known as ‘super contribution caps’, will rise. This is good news because this is the first time these limits have changed since 1 July 2017, when the concessional contributions cap was reduced to...

Your investment options and strategy

Posted at 20 May 2021 in General Interest by Strategic Retirement Solutions

Building your wealth for the long term starts with a sound investment strategy. But with so many options outside your superannuation fund – from bonds to managed funds – where might you begin? Almost every type of investment come with risk Investments can help grow your money....

Economic Update

Posted at 20 May 2021 in Economic Updates by Strategic Retirement Solutions

Introduction Volatility associated with November’s US election should finally be over, enabling investors to refocus on economic prospects and the outlook for corporate profitability and central bank policy. Joe Biden was sworn in as the 46th President of the US. The transition of power was far from...

Federal Budget 2021 – What it means for you

Posted at 13 May 2021 in Federal Budget Updates, General Interest by Strategic Retirement Solutions

As the COVID economic landscape continues to take shape, Australian Federal Treasurer Josh Frydenberg has handed down the 2021-22 Federal Budget. Among the proposed changes, he announced continuing tax relief for lower earners, help for older Australians to save for retirement and more assistance for first...