The benefits of an Annuity strategy

Heather and David, age 65, have had long and rewarding careers. Heather does volunteer work one day a week and David is still enjoying working Part Time two days a week to top up their cash flow. Their house is paid off and they’re looking forward to relaxing in their retirement and spending more time with their grandchildren.

The couple have a meeting with Endorphin Wealth to start preparing for retirement and to look at strategies that may assist them get the most out of their situation. Their Wealth Advisor assisted them to determine how much money they might need and discussed strategies to maximise their Government Age Pension benefits by making the most of lifetime annuities.

The income from the annuities were found to receive beneficial treatment when it is assessed for the Age Pension calculations. As the case study below highlights, by investing some of their Superannuation money into annuities, the couple is able to potentially increase the amount received from the government by around $80,000 over 15 years.

Heather and David feel good about her future knowing they have implemented a strategy to maximise their retirement assets. They can relax now and instead focus on more important things in life.

Annuity Illustration (Challenger Liquid Lifetime)

Heather and David, age 65, are married and live in their own home. They have a Superannuation balance of $600,000 combined and David works Part Time earning $31,200 per year.

The additional Government Age Pension will enable the couple to splurge a bit more in their retirement – perhaps a couple more large holidays or even better, spoil the grandkids!

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The benefits of a TTR strategy

Susan loves spending time with her grandchildren, playing tennis with her friends and she is keen to make the most of her retirement in 5 years’ time. Susan is aged 60 and currently earns $120,000 p.a. as a Human Resources Manager. She has worked hard her whole life and made regular contributions to accumulate a Superannuation balance of $300,000.

Susan is looking forward to travelling the globe after she retires, but is concerned that her current Superannuation balance won’t be able to provide her with a comfortable lifestyle. She speaks with her wealth advisor to discuss her situation and was very interested to learn about a Transition to Retirement (TTR) strategy that would enable her to save tax, boost her Superannuation savings and retain the same level of take home pay.

By reviewing Susan’s Superannuation, the advisor will also have the opportunity to assess Susan’s investments within her Superannuation Fund and make sure that she is invested appropriately.

The strategy works by utilising:

  • The tax benefits available to Susan from salary sacrificing a portion of her salary into her Superannuation,
  • The ability to commence a pension to draw down an amount to top up Susan’s take home pay,
  • Further tax benefits from having her Superannuation funds in ‘pension mode’

Transition to Retirement (TTR) Illustration

The scenario will look slightly different to each individual, however for Susan, her Superannuation balance could be $47,631 higher by utilising a TTR strategy at the end of her career. This could mean an earlier retirement, a more comfortable retirement spread over many years, or perhaps she might elect to fly first class on a few of her flights instead?!

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Testimonials

Read what our clients have to say about Endorphin Wealth

Endorphin Wealth Management
Endorphin Wealth Management
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amair arif
amair arif
12:55 03 Feb 20
Excellent and expertise financial advise from Justin Hooper. Great help in managing my super funds and educated me well... of whole process. Great skills and management, very well presentation of process which makes me understand well. Thanks Justin for wonderful service, making whole process smooth. Highly Recommended. 👏👏👏👍🏻👍🏻read more
Brigid Butler
Brigid Butler
08:55 29 Jan 20
Robert has been a joy to work with. He puts you at ease and explains everything in an easy to understand way. He asked... pertinent questions about my personal situation so he could come up with a financial plan that would ensure that I can live the life I want going forward. He is friendly, caring, passionate about his work and always responds promptly to emails and phone calls. I consider myself very lucky to have met him.read more
Mitchell Brereton
Mitchell Brereton
22:26 14 Jan 20
I was recommended to Justin last year and he was been amazing. In the 9 months of working with him he has given me a... clear vision and goal of my financial situation for the next 20+ years. He always answers the phone & I feel much more at ease now that i have Justin's guidance. Could not recommend him any higher!read more
Gerard P
Gerard P
00:58 30 Nov 19
Robert is fantastic. He helped me to clarify my financial goals and to put in place a clear plan to achieve them. He is... a pleasure to work with and I highly recommend his services.read more
Caradi Miller
Caradi Miller
00:42 16 Nov 19
Robert was recommended to me via my accountant. From our very first phone call I knew that Robert was the person to... help me with setting up my financials for my future retirement. His easy going, friendly and knowledgeable personality makes talking and doing finances a breeze. I highly recommend Robert for all matters regarding personal and SMSF finances.read more
Andrew Di Luciano
Andrew Di Luciano
23:29 09 Sep 19
My Financials was a mess from Savings to Super, i was hesitant to approach anyone with my financials but i needed to do... something fast, I approached Robert after i saw some reviews online, i received a warm welcome from Robert and Staff at Endorphin Wealth Management, I explained my situation, Robert introduced me to a couple more people to get my credit in order as well as my taxes, Robert took care of the rest, he immediately went to work and got all my super in order and we even started a personal portfolio thinking about the long term, i am better off financially now that i have everything in order and visible. I highly Recommend Robert and this team for his knowledge, support and keen eye for detail. 🙂👍 - 5 Star Rating ✨✨✨✨✨read more
Sue Curry
Sue Curry
23:57 02 Sep 19
We recently decided it was time to get our finances in control and look to our future retirement. On a recommendation... from a work colleague, we contacted Robert from Endorphin Wealth to help. Robert was professional, knowledgeable and a delight to deal with. He took away our stress and streamlined our finances and investments, personalizing everything to suit our individual needs and circumstances. Both my partner and I would highly recommend Robert to anyone looking to secure their future finances and investments.read more
Timothy Mannix
Timothy Mannix
01:42 09 Aug 19
I am extremely happy with the attention and care Rob has provided us from Endorphin over the past 18 months. No query... is too insignificant or small for his attention and his advice and management has certainly helped me become more confident and feel more secure about my future planning. Thank you Rob!read more
Ann M
Ann M
08:17 16 Jul 19
I have been working with Glenn for around 6 years. His advice over that time has help me build my superannuation &... retirement assets to a point where I can afford to retire. Around 6 months ago I decided that I wanted to formally retire. Glenn discussed importance of retiring to something and we spent time developing my vision for retirement. This included spending more time with my family, learning how to paint, mentoring my grandchildren, and keeping active by joining a swimming class. He also discussed the important lifestyle benefits that my work provides and how I can replace these once I leave the workforce. This holistic approach is true retirement planning. Because of Glenn I’m confident that I not only have enough money to retire but will also live a fulfilling and energising retirement.read more
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Glenn Malkiewicz has been a great help in setting up my finances for post retirement. He explained everything clearly in words I could understand and answered my questions promptly and succinctly. I now feel very comfortable about my future going forward. His friendly manner makes him a pleasure to work with. I look forward to consulting with him in the future.

Rob has been amazing to deal with. He is so kind and considerate – especially recently when he developed a plan for my Mum who was struggling to live on a part pension. Rob has changed my Mum’s life..and mine! Thank you Rob! We are forever in debt to you!

Phillip and the team at Endorphin have looked after my financial affairs for a few years now and I could not be happier. They are pro active with communication, experts at investment advice and are friendly and great to deal with. They are my trusted financials professionals. I highly recommend them if you are looking for a financial planning team that will look after you for the future.

Rob and Phil and their wonderful team provide excellent service with the unique combination of award winning professional insights, personalised service and real and genuine care about our future

Glenn discussed importance of retiring to something and we spent time developing my vision for retirement. He discussed the important lifestyle benefits that my work provides and how I can replace these once I leave the workforce. Because of Glenn I’m confident that I not only have enough money to retire but will also live a fulfilling and energising retirement.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

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