The EOFY Checklist for pre-retirees with financial planner Paul Benson
The End of Financial Year is just around the corner, so I catch up with Financial Planner Paul Benson to find out everything you need to know before June 30th.
The end of financial year is just around the corner, and for those approaching retirement, it can be quite an important time to think about your superannuation contributions and how to maximise your tax savings. This year is also pretty special, because on 1 July we get an uplift in the concessional and non-concessional superannuation caps, an increase in the contribution rate as well as the stage three tax cuts.
So this week I’m chatting with Paul Benson. He’s a Financial Adviser, and a fellow columnist for The Age and The Sydney Morning Herald finance section. And we’re talking through the end of financial year checklist we should all be thinking about before June 30 comes around.
We talk about a long list of things, and hopefully you can find some good insights to help you as you’re thinking through your end of year preparations.
Some highlights include:
The most common mistakes people make at this time of year, and how to avoid them
Catch up contributions - everything you need to know about how they can be used around this unique end of financial year where the caps lift next year.
What property investors need to know before financial year end.
How to maximise your tax savings if you’re a pre-retiree.
Super contributions and concessionald and non-concessional caps - and how they are changing on 1 July. We dive deep.
The stage three tax cuts and how they can be used to bump your superannuation up.
The bring forward rule: A neat ways that a couple with money outside super could get nearly a million dollars into super in the coming months using non-concessional contributions.
The changes and updates that people need to be aware of before the financial year comes to a close.
This podcast is sponsored by Aware Super. And we’re thrilled with their support of the show.
If you are enjoying Prime Time with Bec Wilson, or have feedback, ideas or thoughts on things you’d like us to cover, drop me an email at bec@primetimers.net.
Together let’s make our prime time count in 2024.
Many thanks! Bec Wilson
Author, columnist, retirement educator, podcast host and guest speaker
PS. If you’re preparing for retirement, our Epic Retirement Flagship Course kicks off on the 6th June. More info here.