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James Coyle
James has over 35 years experience in financial services with particular expertise in two of the key components of retirement finance - Superannuation and the Age Pension. He is passionate about providing the guidance and support that can help older Australians enjoy their best possible retirement. He lives in regional Victoria surrounded by dogs and chooks.
As a couple only concerned with the assets test due to each having a market linked super balance providing an income stream, I was told Centrelink have our details including account numbers & we are not required to report ever changing values.We receive a part pension
I agree, the whole process including managing an smsf is complicated and unnecessarily so
You should send your article to involved Federal Ministers and their bureaucrats with a plea for simplifying same
You would be doing all retirees a great service
Good morning, l find your hints, advise etc excellent and appreciated. One thing I have noticed with a few friends that have retired seem tobe of the opinion they don’t pay tax on super dividends. I would like to pass on the facts if you have available. Many thanks..
Hi Ray. I’m not exactly sure what you are referring to here. It could be in relation to account based pensions where the earnings are tax free
I am a 78 year old receiving a pension. I own my home but find the biggest expenses are fixed bills such as insurance and costs involving home maintenance. I have a boarder who pays a modest rent. I have to declare this to Centrelink which reduces my pension. My recent Building Insurance (annual) bill was $350 more than my fortnightly pension. I have no Superannuation and a small amount in savings. I can manage and claim what I can but some medical costs aren’t covered such as an operation done privately because the wait time is so long, I don’t have hospital insurance. I am thinking of moving to a retirement village but don’t think I will be better off financially. Any advice would be appreciated.
I’m 66 and have worked towards retiring abroad, so I can learn a new culture and language in my retirement years. Sadly, with the the aged pension card I will not receive any part pension, right?
Hi David. Moving permanently overseas doesn’t necessarily mean you won’t receive an age pension. Your pension will be affected as you will lose some of the allowances and depending how long you have lived in Australia you pension could be further reduced. Our recent moving overseas article gives more details.
Hi I’m retiring on December 17th 2021
I have a SMSF with my wife. I’m 67 in March.
She is 60 and plans on retiring in July 2022.
Our balance in our SMSF is $600,000. We own 2 houses both mortgage free.
Our Principal place of residence is valued at $1,000M. Our other house is valued at $1.1M.
Is it worth me applying for a part pension?
Thanks
Steve
Hi Steve. Based on the figures you have provided you probably won’t be eligible but it is also worth checking to be be sure if you are eligible for the age pension or if not possible for the Commonwealth Seniors Health Card. Our free eligibility calculator will assess whether you are likely to be eligible for either of those
I am thinking of retiring within the next year, but my wife will still have 4.5 years to work PPT , i will be following up with you next year to discuss what is best option for me, look forward to your emails they are really helpful with people situations
Very educational and helpful
Need help in planning retirement
Hi Lynette, thank you for reaching out for help planning your retirement. For you and anyone else who would like to have a discussion with someone they can trust about retirement we do offer financial advice consultations.
Our financial advice consultations are designed to help you better understand your needs and goals in retirement and some of the actions you can consider to help you achieve those goals. The consultation is online and for up to 45 minutes. The discussion will:
* Provide you with the opportunity to ask questions to understand if you are on the right track.
* Help you feel reassured that you can plan the future you envisage.
* Have confidence in knowing that you have a clear understanding of the rules and impacts for you.
* Explore options available to you for your next steps.
We charge $150 (inc GST) for the 45 minute discussion, CLICK HERE to book now.
How much does it cost for a consultation please?
Hi Liz. Our advice consultations are $75 for up to an hour. You can find out more here.
On the link you gave it’s says $150 for 45 minutes consultation, not $75 for up to an hour you have stated. ??
Hi Lesley. The correct price is $150. Our apologies for the error.
Basically i would like to see if my husband and l are legible to get commonwealth seniors card or anything else. We are self funded retirees.
Hi Eva. You can check your eligibility here
I have a house which I wan t to sell and buy one with my daughter. I am 74 and on the aged pension. Are there restrictions,?
Hi Caroline, it would be best to discuss your situation and the important factors you should consider in a more confidential forum. We will send you an email separate to this comment with details on how we can potentially assist further via a consultation.
Thank you for all your amazing advice, it really is a minefield retiring and your information makes it so much easier to understand!
Good day I am ellegible for a pension in May next year can I take $20000 out of my super to go on holiday before I apply
Hi Noel, thanks for reaching out! Generally speaking yes you can use your money to go on a holiday and this will not impact your eligibility for the Age Pension. Given you still have a bit of time before you can apply and you are interested in what you can/cannot do in the lead up, we would be happy to have a Retirement Advice Consultation with you or anyone else reading this who has similar queries.
The discussion will:
* Provide you with the opportunity to ask questions to understand if you are on the right track.
* Help you feel reassured that you can plan the future you envisage.
* Have confidence in knowing that you have a clear understanding of the rules and impacts for you.
* Explore options available to you for your next steps.
We charge $150 (inc GST) for the 45 minute discussion, CLICK HERE to book now.