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clock Created with Sketch. 19/07/17
20:38
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Originally posted by Mongrel
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Glad you're seeing a pro. You really haven't given enough information: where will your income be sourced from (a super fund?). Are you single/married/kids? How much do you have in your super fund? (you + wife = $3.2M max tax free, the remainder has to be left in an accumulation fund taxed at 15%). Are your investment properties outside super? Are you relying on investment property income or capital gains to finance your retirement? You say "redraw money" - do you mean draw down on the mortgage? Bad idea. If from rental income - OK, bit if its outside super that draw down will be taxed at the marginal rate.
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Wow thanks for the answer. The info I provided was about all there was. I'm a bit embarrassed as I don't really have that much cash. Only 250 k in the super fund. Paid off investment property and one paying off. Paid off house. Wife with even less in super. 2 kids. Plan on retiring and living off rental returns, whatever I can save between now and 55.
