6 Types of Retirement Income Streams: How to Fund Your Ideal Retirement

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Күн бұрын

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@SuperGuyAu 2 ай бұрын

Hey everyone, thanks for watching! Ready to take control of your retirement? Download our FREE 6-Step Superannuation Check today: www.torowealth.com.au/6-step-super-check/

@Woodland26 2 ай бұрын

my plan as I have turned 60: 1. TTR 2. Continue to work but in reduced hours 3. Collect rental income Should be OK before fully retire. Not eligible for pension.

@SimoniousB 2 ай бұрын

Should be OK? I love it when the (land) lord worries 😂. You’ll more than likely qualify for a part aged pension after you’ve paid a fancy accountant to legally hide your assets later in life. Ain’t life grand.

@w0mblemania 2 ай бұрын

@@SimoniousB Not really called for, mate.

@SuperGuyAu 2 ай бұрын

Sounds like a great plan!

@Woodland26 Ай бұрын

@@SuperGuyAu will book a session with Toro soon, thanks!

@Woodland26 Ай бұрын

@@SimoniousB No mate I would not qualified for any pension. Glad no need to deal with Centrelink. Also should get some dividends too as another source of income. You can do the same too.

@robsalvv5853 2 ай бұрын

Good primer for those of us in our 50’s with retirement on the horizon. I never realised the nuance between an annuity and account based pension. I thought they were the same thing! …perhaps I should be reading the Superguy emails more closely!

@SuperGuyAu 2 ай бұрын

Glad it helped!

@Bobbydazzlla 2 ай бұрын

Alway great to listen to your information. Thanks, and see you next time.

@SuperGuyAu 2 ай бұрын

Thanks for watching!

@caromarco6315 2 ай бұрын

Very good food for thought thank you!

@SuperGuyAu 2 ай бұрын

Glad it was helpful!

@ren8240 Ай бұрын

What options are there for people who take extended time unpaid away from the workforce to care for kids or elderly & their superannuation is just sitting there still paying fees but not adding anything to?

@conghuynh3843 Ай бұрын

Smsf after 60 can u withdraw money anytime? Limited?

@GibsonJames-gr3on 2 ай бұрын

I still like rent from investment properties for their steady income stream.

@JasonAmir-qo4uo 2 ай бұрын

They are, but consider property management costs.

@w0mblemania 2 ай бұрын

The problem with investment properties is that the income may be steady, but the expenses aren't. One week, you're fine. The next week, you have a broken pipe underneath concrete. Or the hot water service goes. Or the roof needs recapping. Or trees have to be cut down. Or tenants do damage.

@lengerer 2 ай бұрын

My father is retired and 70 yrs old, house paid off, buys a new car every couple years. He says spends 30k PA which covers all bills and food. I was surprised how little the figure was as im working towards 100k PA.

@SuperGuyAu 2 ай бұрын

Retirement income needs are different for everyone. It really just depends on your personal goals and desired lifestyle. You mentioned your father has factored in bills and food; however, you may also want to consider travel expenses and other capital expenses, such as car upgrades, financial gifts etc. To give you a starting point, the Association of Superannuation Funds of Australia (ASFA) provides an estimate for a comfortable and modest lifestyle (for couples and singles). This I roughly $48K p.a. (for a modest lifestyle) and $73K p.a. (for a comfortable lifestyle) - for couples and $33K p.a. (for a modest lifestyle) and $52K p.a. (for a comfortable lifestyle) - for singles. Hope that helps!

@davidwallace6940 2 ай бұрын

thanks for your channel Chris. What about reverse mortgage as an income stream? Id love to hear your thoughts on this. Cheers

@SuperGuyAu Ай бұрын

You're welcome. A reverse mortgage is certainly an option that allows you to access the equity in your home to assist in funding retirement. The downside is that you are effectively borrowing against your home and having any interest capitalised, which causes your loan to increase at a snowballing rate.

@markspin4596 2 ай бұрын

In relation Annuities, you forgot to mention the favourable Centrelink (income/asset test treatments).

@Rick-kj9dd 2 ай бұрын

Another disadvantage of an allocated pension is the possibility of sequence of return risk when you begin drawdowns. On a down market your funds could deplete much quicker than in an increasing market.

@bornufree 2 ай бұрын

Indeed but you only need to draw down the minimum percentage on a reduced amount unlike the 4% rule

@Rick-kj9dd 2 ай бұрын

@@bornufree The minimum is 4%. Look it up!

@Rick-kj9dd 2 ай бұрын

@@bornufree The minimum drawdown is 4%. Look it up!

@scottyt-au6902 2 ай бұрын

Very helpful information. Is it possible to get a percentage of your super as an annuity and the remaining percentage as an retirement income stream as a 50/50 or 70/30??

@SuperGuyAu 2 ай бұрын

I'm glad this was helpful! Yes, it is possible to purchase an annuity using a portion of your superannuation and to transfer the remainder to an account-based pension. However, I recommend speaking to your financial adviser in relation to this.

@garryelsdon6296 2 ай бұрын

What are your thoughts on IRIS based super accounts

@worma544 2 ай бұрын

Just about to receive approx AU$350k from an overseas pension into a newly created SMSF. I need to invest this money as part of the investment strategy of the scheme. How would anyone on this channel currently invest $350k?

@juliedaniels5594 2 ай бұрын

Hi, I emailed your office to get an idea of costs and appointment availability. No reply

@halitosis75 2 ай бұрын

I did the same, and no response

@juliedaniels5594 2 ай бұрын

@@halitosis75 it makes me mistrust him.

@SuperGuyAu 2 ай бұрын

Hi Julie. I personally reply to every email enquiry that comes through. I cannot find any record of your email unfortunately. I apologise for the inconvenience and frustration. Do you mind if I ask the email/contact page you used? You can contact us at admin@torowealth.com.au

@SuperGuyAu 2 ай бұрын

I sincerely apologise for this. Do you mind if I ask the email/contact page you used? You can contact us at admin@torowealth.com.au

@halitosis75 2 ай бұрын

Chris you didn't mention living in another country that is much cheaper than living in EXPENSIVE Australia.

@TherealQ2 2 ай бұрын

That would be because the topic is income streams, not living in a foreign country.

@w0mblemania 2 ай бұрын

Sure, but there are huge downsides, as well. Including the fact that most cheaper countries aren't stable, liberal democracies with a good social security system. As you get older, you need better, high quality medical care and services. You may save money by being overseas, but what happens when you need an urgent MRI or get diagnosed with cancer? (Which, sadly, is much more likely as you age.)

@SuperGuyAu 2 ай бұрын

Living in another country is definitely an option in retirement (and a reality for many retirees). There's pros and cons to both, but generally comes down to personal preferences/desired lifestyle.