Superannuation Discussion + market volatility

[SYD]

No longer working for $$$

That’s a pretty narrow definition in the context of contributing to super.

You can stop “working for $$$” below preservation age and still be actively managing your finances (ie continue to top up super). “Self funded retirees” can live off other income before super kicks in.

Sadly, And therein lies a major reason why people can't imagine selling buying and moving which is never an easy process.

That’s part of the logic to treat “downsizing” differently - make it more attractive to sell.

You actually don’t need to “downsize” at all - just sell the existing home (and meet the age and timing conditions). You can actually buy something bigger and more expensive…

But doing something about State “stamp duty” would help people turnover property sooner and not have older folks stuck in unsuitable houses (ie steps etc).

 

[andye]

No longer working for $$$

However the ATO defines it differently:- essentially stopping work with no intention of working more than 10 hours a week

 

[Pushka]

However the ATO defines it differently:- essentially stopping work with no intention of working more than 10 hours a week

At the moment you make the decision to retire. I retired December 2019. Look what happened in Feb 2020. Share market tanked. I went back to work.