April 30, 2014
Most pre-retirees are missing out on significant potential tax savings each year by failing to implement one of superannuation’s best-kept secrets, a transition to retirement strategy.
Known as TTR, this strategy is a powerful retirement planning approach that’s custom made for pre-retirees aged 55 and over. It enables people to make extra contributions to super and take advantage of the tax benefits of salary sacrifice, without affecting their current take-home pay.
Unfortunately widespread use of TTR is limited because fewer than 40 per cent of Australians have ever sought financial advice, according to the Australian Securities and Investments Commission. ASIC says TTR allows people to work longer, retire later and be rewarded. but it can be complex so seeking financial advise is important.
Contact us to arrange to discuss TTR with our Mortgage Choice Financial Planner - we'll cover the cost of your first meeting.