The Strategy Stacker - Luke Talks Money
Luke Smith
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Luke on 2CC – What is retirement?
The Strategy Stacker - Luke Talks Money
02/21/21 • -1 min
Are you approaching retirement? Here’s some tips
Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 19 February 2021. This week’s topic: What is retirement? Sure there’s a legal definition but there’s also a real life definition too.
In recent weeks Luke has looked at growing your super and taking income from that super when you retire through an account-based pension. This week Luke explores what retirement actually is and offers his top tips for those approaching their life after work or life with reduced working hours.
Key highlights include:
- What does retirement really mean?
- The real life definition: Do you have the resources to live the life you want and without working?
- What Covid has taught us: most people struggle to sit at home and do nothing – the same can be said for retirement
- What Covid has taught us: you can work remotely from home
- The legal definition: You reach a certain age and you can access your superannuation – it’s called the Commonwealth Preservation Age
- Your Commonwealth Preservation age is between 55 and 60, depending on the year you were born – click to see the table
- From 60-65, if you meet a condition a release, eg give up work, you can access super
- From 65 onwards, you’ve reached your maximum preservation, and can access your super without having to give up work
- If you’re under the age of 65, but have retired, you can still put money into super
- Luke shares his top tips for those approaching retirement
- A free appointment offer to talk about your own financial planning goals. Everyone has different goals and financial planning advice can help you achieve them more effectively, especially when you link different strategies.
Do you need advice around your retirement plan?
Approach your retirement with confidence. Seek financial planning advice.
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Retirement planning can be complicated, but the good news is you can make an appointment to speak with Luke about your superannuation and retirement strategy – including the account-based pension.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your own investment, super or retirement goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast. We look forward to your company again.
Luke on 2CC – Super contributions, are they all the same?
The Strategy Stacker - Luke Talks Money
08/28/22 • -1 min
Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 26 August 2022. This week’s topic for discussion however is: How do things differ between the different types of super contributions?
Key topics covered include:
- The rules change over time in regard to super
- Do you want to claim a tax deduction or not?
- What are the limits for the different contribution types?
- Remember the limits apply on a per person basis (not across couples as many people think)
- Don’t forget about the down-sizer rules too if you’ve sold your home – available to people over 60 years of age (from 1 July 2022)
- What is the transfer balance cap? It applies to defined benefit funds too.
- Additionally, don’t forget about the tax implications for your adult children too with reference to your estate planning. Remember to start with your ‘why’ or your goals upfront.
- Luke shares his top tips to consider around making contributions to super.
Listen to the Podcast right now
https://www.envisionfinancial.com.au/wp-content/uploads/2022/08/The-Strategy-Stacker-Luke-Talks-Money-26082022.mp3 Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’Do you need advice on super contributions?
Super contributions are a great way to boost your super. There are however strategies for taxation and estate planning you may consider upfront too, before you take action. Seek advice if you need to.Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Make an appointment to confidentially discuss investment, super, insurance and retirement planning. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcasts on our website too.
We look forward to your company again.
Luke on 2CC – Can I retire during Covid 19?
The Strategy Stacker - Luke Talks Money
04/26/20 • -1 min
I want to retire this year, then Covid 19 happened. Can I still retire?
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 24 April 2020 and the topic: Retirement planning and Covid 19.
In today’s topic Financial Planner Luke Smith joins Leon to explore the issues around retirement planning during the unusual times we find ourselves in. Is it still possible to retire with everything that’s going on right now? Luke begins the conversation by reminding us that this too shall pass.
Key highlights include:
- Think about your income requirements over the next 12-18 months
- Keeping a percentage of your portfolio in accessible cash
- The impact of retirement – it’s a change, even without covid 19 being around
- You still can retire now, if you’re ready to
- Think about your own current situation and needs
- Is it full time retirement or will you still be working part time?
- Are there other things you can do and look at to keep more control?
- The key things to remember when thinking about retirement during Covid 19
- An offer to have a chat and seek financial advice about your own retirement planning
Listen to the Podcast right now
Also available on Apple Podcasts ‘The Strategy Stacker – Luke Talks Money’Would you like some advice around your own retirement plans?
Make an appointment to catch up with Luke over the phone or via video conference. Appointments at the office will return once the Covid-19 has passed.
Envision 2CC offer: Your first appointment is at our cost – even over the phone or by video chat. Make an appointment to confidentially discuss your super and financial matters. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.
Luke on 2CC – Costs of a Self Managed Super Fund – Part 4
The Strategy Stacker - Luke Talks Money
04/06/20 • -1 min
What are the costs of a self managed super fund?
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 3 April 2020 and the topic: Costs of a self managed super fund.
In today’s topic we continue the to take a closer look at self managed superannuation funds. In part 1, we looked at how to set up a SMSF. In part 2, we looked at what’s involved in running a SMSF. In part 3, we look at the benefits of a self managed super fund. Part 4, this episode looks at costs
Key highlights include:
- What does a SMSF actually cost?
- What should you look for when looking at the fees of your non SMSF fund?
- Membership / Administration fees
- Internal Cost Ratios (ICR)
- Super splitting fees and separation fees.
- Fees in SMSF should be explicit.
- Luke compares costs of a SMSF with other types of funds
- Are there any other fees within a SMSF that you should be aware of?
- Actuarial certificate and company fees (if a company is used for the super trust structure)
- SMSF’s are probably not appropriate for smaller account balances
- What are some strategies to think about when investing in a SMSF?
- You should consider your own situation and needs before choosing a self managed superannuation option. Financial planning advice can assist you make informed decisions.
Listen to the Podcast right now
Also available on Apple Podcasts ‘The Strategy Stacker – Luke Talks Money’Would you like to explore the costs and benefits of a self managed super fund?
Make an appointment to catch up with Luke over the phone or via video conference. Appointments at the office will return once the Covid-19 has passed.
Envision 2CC offer: Your first appointment is at our cost – even over the phone or by video chat. Make an appointment to confidentially discuss your super and financial plans. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.
Luke on 2CC – Benefits of a Self Managed Super Fund – Part 3
The Strategy Stacker - Luke Talks Money
03/30/20 • -1 min
What are the benefits of a self managed super fund?
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 27 March 2020 and the topic: Benefits of a self managed super fund. They begin the discussion though about the ongoing Covid-19 crisis and the financial impact it’s having on many Australian families right now.
Super access and Covid-19 discussion
In this episode Financial Planner Luke Smith joins Leon from 2CC via telephone given the ongoing social distancing requirements that have come into play. They started the conversation about accessing $10,000 this financial year and $10,000 next financial year – an initiative implemented by the Federal Government. But what are the implications? Super is a long term savings vehicle regardless of which type of super fund you use. Luke suggests looking at other options before this one.
The topic for this episode – Self Managed Super Funds – Part 3
In today’s topic we continue the to take a closer look at self managed superannuation funds. In part 1, we looked at how to set up a SMSF. In part 2, we looked at what’s involved in running a SMSF. In part 3, we look at the benefits of a self managed super fund. The key benefit is flexibility.
Key highlights include:
- Greater control over the investments within your fund, compared to other super fund vehicle options
- Price and cost issues, it might be cheaper depending on what your individual circumstances are compared to other funds
- You also control your risk profile and asset allocation
- As a result you also have greater control over how the income is generated, including franking credits and tax issues
- Luke’s top 3 benefits of a self managed superannuation funds
- Strategy considerations of SMSF in the current environment
- You should consider your own situation and needs before choosing a self managed superannuation option. Financial planning advice can assist you make informed decisions.
Listen to the Podcast right now
Also available on Apple Podcasts ‘The Strategy Stacker – Luke Talks Money’Would you like to discuss if the benefits of a self managed super fund are right for you?
Make an appointment to catch up with Luke over the phone or via video conference. Appointments at the office will return once the Covid-19 has passed.
Envision 2CC offer: Your first appointment is at our cost – even over the phone or by video chat. Make an appointment to confidentially discuss your super and financial plans. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.
Luke on 2CC – Running a Self Managed Super Fund – Part 2
The Strategy Stacker - Luke Talks Money
03/23/20 • -1 min
How do you run a self managed super fund?
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 20 March 2020.
Covid-19 Financial discussion
In this episode Financial Planner Luke Smith joins Leon from 2CC via telephone given the new social distancing requirements that have come into play. They start the conversation about accessing super – during the covid-19 crisis – and we’ve since seen the Government bring new rules into place. To access your super early contact your super fund.
We’ve also seen that the Government has also introduced the ability for those on account-based pensions to reduce the amount of pension they need to take to help preserve the capital. Again contact your Super Fund to do this.
It’s also important to remember the impact of the market on your superannuation. Please remember most people don’t have all of your assets in a super fund invested in shares. People in balanced and diversified funds won’t rise or fall at the same rate as the share market.
The topic for this episode – Self Managed Super Funds – Part 2
In today’s topic we continue the to take a closer look at self managed superannuation funds. Now that the fund has been set up, how do you manage it?
Key highlights include:
- Consider the super fund investment strategy – must happen annually. A financial planner like Luke at Envision Financial can also help you do this.
- Consider the insurance needs of the members within the fund – must happen annually. A financial planner can also assist.
- When a pension income stream is started, you need to complete paperwork for the accountant and auditor.
- The accountant needs to complete a tax return for the self managed super fund.
- Your accountant will need information from you to complete the administration and tax requirements. Luke outlines the information requirements.
Listen to the Podcast right now
Also available on Apple Podcasts ‘The Strategy Stacker – Luke Talks Money’Would you like to talk about running your own self managed super fund?
Make an appointment to catch up with Luke at his office over a cup of tea or coffee.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your superannuation plans. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.
Luke on 2CC – How to set up a Self Managed Super Fund – Part 1
The Strategy Stacker - Luke Talks Money
03/16/20 • -1 min
What should you know before setting up a SMSF?
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 13 March 2020.
In this episode Financial Planner Luke Smith joins Leon from 2CC take a closer look at self managed super funds and specifically how to set one up. It’s been a popular topic with radio and podcast listeners so Luke’s going to take a closer look. They start the show though by talking about the continued volatility of the share market. On Friday at the time of the show, Australian Shares had bounced back following a Government announcement about Covid-19. Clearly volatility is going to continue and Luke warns about the dangers of emotional decision making during times of volatility.
Key highlights include:
- Where do you start setting up a SMSF?
- The importance of understanding your ‘Why’ before you begin?
- Do you have a corporate trustee or joint partnership of a self managed super fund
- Pick a name for your fund, self managed super funds names are not registered, however the corporate trustee is a registered name if you use one. There’s often a role for a solicitor here.
- Creating the deed, it’s the rule book for how your self managed fund will work.
- New binding death nominations for your fund, what are they and what do they do?
- Tax file numbers and ABN – they’re also required
- You’ll also need a bank account for the fund
- Rolling over and contribution issues to consider
- You’ll also have a legal requirement to create an investment strategy
- There’s also responsibilities as a trustee that you should be aware of
- You’ll also need to open a trading account, if you intend buying and selling shares
- You’ll also need an accountant to help you meet your ongoing accounting SMSF obligations and Luke shares some tips on finding the right accountant.
Listen to the Podcast right now
Also available on Apple Podcasts ‘The Strategy Stacker – Luke Talks Money’Would you like to talk about setting up a self managed super fund or managing one?
Make an appointment to catch up with Luke at his office over a cup of tea or coffee.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your superannuation plans. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.
Luke on 2CC – Share Market Volatility and Covid-19
The Strategy Stacker - Luke Talks Money
03/08/20 • -1 min
What should you know about current share market volatility?
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 6 March 2020.
Stock market volatility continues to be front and centre of finance news but Australia has enjoyed many years of economic growth. This probably makes the current share market volatility seem more pronounced as we’re simply not used to it. In this episode Financial Planner Luke Smith and Leon from 2CC take a closer look at the personal finance issues surrounding movements and the importance of keeping perspective. Certainly the media like talking about losses, but in the current environment we’ve seen both down days and up days. What are the things smart investors need to be aware of at times like this?
Key highlights include:
- Long-term investors beware: If you jump out of shares right now what are you jumping into? Cash rates are at record lows
- Did you know that share dividends are a function of profit and do not directly correlate with the share price?
- What business sectors are likely to be affected by covid-19?
- Remember your ‘Why’, what are your goals and timeframe for investing?
- Beware if sensationalist media reporting, percentage losses provide more useful information than total market rises or falls.
- Do the down days on the stock market present buying opportunities?
- What is short selling?
- What are the mistakes people make during times of market volatility?
- Above all, don’t panic.
- There’s also an offer to meet with Luke at Envision Financial to talk about managing your own situation.
Listen to the Podcast right now
Also available on Apple Podcasts ‘The Strategy Stacker – Luke Talks Money’Would you like to talk about managing share market volatility with your own investments?
Make an appointment to catch up with Luke at his office over a cup of tea or coffee.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your financial concerns, options and plans. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.
Luke on 2CC – Mortgage versus Super?
The Strategy Stacker - Luke Talks Money
03/02/20 • -1 min
Is it better to repay the home loan quicker or make contributions to your super?
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 28 February 2020.
Luke and Leon begin the show by reflecting on what’s been happening with stock markets given Covid 19, and the importance of keeping a long term perspective in the short term. Now might be a buying opportunity. The topic of the day however is super contributions versus paying off your home. Which way should you go?
Key highlights include:
- What are the issues you might consider in making a decision?
- Is the loan tax deductible or not?
- How low interest rates help paying off the home sooner
- Can you restructure your home loan to do both?
- What circumstances might prompt you to pay off your home loan quicker?
- What circumstances might prompt you to contribute to your superannuation?
- Make the most of your options, considering perhaps even moving to part time as you get older.
- There’s also an offer to seek advice with Envision Financial.
Listen to the Podcast right now
Also available on Apple Podcasts ‘The Strategy Stacker – Luke Talks Money’Do you need help to decide if you should pay off the mortgage or contribute more to super?
Let us help you consider your options and get your financial goals and plans in place.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your financial options and plan. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.
Luke on 2CC – PSS benefits, your contribution matters!
The Strategy Stacker - Luke Talks Money
05/31/20 • -1 min
The PSS benefit you receive is partially determined by what you add
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 29 May 2020 and the topic: PSS Super- The Public Sector Superannuation Scheme.
In today’s topic Financial Planner Luke Smith joins Leon to explore the opportunities many people who work for the Government don’t realise they have with the PSS Scheme. Leon and Luke start the show talking about the Covid-19 re-start of the NRL football season with the Canberra Raiders playing this weekend with the Melbourne Storm. Go Raiders!
(Post game note: Good news, Canberra won 22-6, sorry to the Storm fans listening).
Key highlights include:
- What is the PSS?
- How is your final benefit calculated?
- Do you know why it’s a good fund to be a part of?
- What is the benefit of making a 10% contribution if you can?
- What’s the difference between making a 5% contribution and a 10% contribution?
- Can you have a second superannuation fund to salary sacrifice if you wanted to save more to super?
- Does the PSS take new members? Sadly no!
- How should you take the PSS once you retire? Pension, Lump Sum or Combination?
- Start thinking about your PSS with the end in mind – the sooner you start the better!
- An offer for a free appointment to talk about your own financial planning needs.
Listen to the Podcast right now
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Would you like advice about your PSS and retirement plans?
Make an appointment to catch up with Luke over the phone or via video conference. Appointments at the office will also return very shortly!
Envision 2CC offer: Your first appointment is at our cost – even over the phone or by video chat. Make an appointment to confidentially discuss your PSS and retirement goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.
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FAQ
How many episodes does The Strategy Stacker - Luke Talks Money have?
The Strategy Stacker - Luke Talks Money currently has 304 episodes available.
What topics does The Strategy Stacker - Luke Talks Money cover?
The podcast is about Financial Planning, Retirement, Taxation, Tax, Investing, Money, Money Management, Podcasts, Financial Advice, Education and Business.
What is the most popular episode on The Strategy Stacker - Luke Talks Money?
The episode title 'Luke on 2CC – Is super taxed when I die?' is the most popular.
How often are episodes of The Strategy Stacker - Luke Talks Money released?
Episodes of The Strategy Stacker - Luke Talks Money are typically released every 7 days.
When was the first episode of The Strategy Stacker - Luke Talks Money?
The first episode of The Strategy Stacker - Luke Talks Money was released on Nov 11, 2018.
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