CPA advice to baby boomers: learn to love your super!
The Certified Practising Accountants’ organisation (CPA) has produced a wealth of practical information for those contemplating or planning retirement.
Its website www.cpaaustralia.com.au contains a number of fact sheets with useful information to read and download, such as Learn to love your super – learn, love and make it last.
This also covers links to other useful sites, such as the Government’s Fido website (www.fido.asic.gov.au) which enables you to calculate superannuation, the Australian Tax Office’s super seeker website (www.ato.gov.au/content/33301.htm) which assists in locating any lost superannuation.
CPA suggests reviewing life insurance cover. There can be real benefits in purchasing life insurance through your superannuation as all super funds offer some form of cover. Provided you have accounted for estate planning needs, insurance through your fund may include life insurance, total and permanent disability (TPD) insurance and income protection which can be paid for from your contributions, potentially saving you hundreds of dollars each year.
A financial planner can help you evaluate whether buying insurance via superannuation will meet your needs.
The site also offers further information to download – covering advice on finding a financial planner, super facts sheets, case studies, and frequently asked questions and answers.
