The beginning of a financial year usually brings with it some addition to our financial landscape introduced by the government – and it’s not always increased taxes! This year one of the standouts is the addition to the ranks of superannuation contributors, citizens aged from 67 to 75, who, once retired were previously barred from adding to their “nest egg”.
I know it is difficult for a person aged 20 to get excited about the joys of a tax free income stream that they can collect in 45 years, but investing for whatever reason if started early can make a huge difference for a 65 year old, forty five years later.
A six-figure tax free income from a super fund can sweeten your declining years!!
Most people aged 65 have an investing capacity infinitely better than somebody aged 45 with 3 kids at a private school.