There is considerable debate of the amount of income that people require in retirement. A number of factors influence the answer to this perplexing question.

But most importantly, the answer lies in what type of lifestyle you would like in retirement, and importantly, what lifestyle can you afford, and your eligibility for Government benefits such as the age pension.

Do you see yourself dining out at a top quality restaurant once a week, or will lunch at a local coffee shop satisfy your dining out experience?

Will your holidays consist of hitching up the caravan and travelling up or down the coats to your favourite beachside location, or is a week or two feasting on wine and cheese in Tuscany more your style?

Will you be travelling to your local shops in the latest European convertible, or is a compact car more appropriate, or in fact, will you be jumping on your local bus or train?

You see, the amount of retirement income you need is influenced by the lifestyle Read the full story.

Late in 2005, legislation was introduced that would provide many superannuation fund members with the opportunity to split superannuation contributions made on or after 1 January 2006, with their spouse.
Contribution splitting operates on an “annual split” basis. That is, after the end of each the financial year, a superannuation fund member whose super fund allows contribution splitting, can request the super fund to split contributions made during the previous financial year. As contribution splitting only came into effect from 1 January 2006, this year’s split only applies to contributions made between 1 January 2006 and 30 June 2006.
A super fund member may split up to 100% of their undeducted contributions (those contributions for which a tax deduction has not been claimed) and up to 85% of taxable contributions (contributions for which a tax deduction has been claimed).
Contributions may be split with a spouse provided certain criteria’s have been met.
A “receiving spouse” Read the full story.

Everyone likes to be in control of the decisions they make. However, sometimes events happen that mean we lose the amount of control we previously had. These can be simple problems such as being overseas and being unable to attend to your financial affairs, or serious problems such as losing the abaility to manage your own affairs as a result of an accient or illness. As part of the estate planning process, there are a number of arrangements that can be put in place to enable another person to make these decisions on your behalf. Such arrangements include Enduring Powers of Attorney, advance health directives and funeral plans.

An Enduring Power of Attorney may cover financial, personal & health issues. The payment of bills, making investment decisions, health decisions & other day to day issues that may arise - someone needs to continue making these decisions on your behalf.

Along with a current will, the Enduriing Power of Attorney would be one of the most important documents you Read the full story.