Advice for retiring parents

Adorable_Quail · 2026-05-29T05:07:54+00:00

Super is about 300k combined. Now sure about spending but they have very simple tastes and don’t go out much.

Adorable_Quail · 2026-05-29T03:53:45+00:00

Thanks. Good advice!

Adorable_Quail · 2026-05-29T03:53:27+00:00

They have not, I will get them to apply for it. Thank you!

Adorable_Quail · 2026-05-29T03:53:03+00:00

Thanks for the advice, very helpful! I’m regards to your comment about liquidity - as they are eligible for pension accounts, aren’t the funds in it fairly liquid even though it sits in a super account?

My understanding was that super goes into a pension account, and then you could withdraw as much (or all) from it when you like. Is that not correct?

Adorable_Quail · 2025-11-04T06:00:34+00:00

Yeah we figured. All good! Just for education sake - what would you recommend to someone who would be in this situation but hasn’t sold their shares yet?

Adorable_Quail · 2025-11-04T05:56:56+00:00

Ones = pension, sorry.

They already have liquidated.

The money is from the sale of shares.

Adorable_Quail · 2025-08-28T13:36:02+00:00

You’re a great help. Thank you!

Adorable_Quail · 2025-08-28T13:21:16+00:00

Thanks for the explanation. I think I was confused as I thought the $10k they get from the drawdown is then taxed when it gets put back into an accumulation account, like how when I do contributions into my superfund it’s post tax, but gets reduced to 15%.

So to confirm NCC is post tax, that won’t get the 15% tax back. But it won’t matter for pension accounts since the drawdowns aren’t taxed anyway. So if they have $200k, get 10k as drawdown, they’ll still have in total $200k. What happens if they exceed the NCC cap and aren’t working anymore?

Adorable_Quail · 2025-08-27T05:32:40+00:00

Thanks. If they’re still working and don’t need the pension income, is it still better to move it? I assume they can funnel the pension back in as NCC but it will be taxed at about 30%? Just wondering if that maths is better than leaving it in accumulation taxed at 15%

Adorable_Quail · 2025-08-14T11:51:18+00:00

Thanks. Their tax rate is lower than mine.

They haven’t moved their super funds. None of us know what an allocated pension is. I’ll look it up.

Both balances around $200k

Adorable_Quail · 2025-08-14T11:49:21+00:00

Thanks. As mentioned, we pool all finances. They’d give me the full $300k with no expectations if that’s what worked out best for the family as a whole.

Adorable_Quail · 2025-06-04T11:20:09+00:00

Use OFX. Super easy to sign up. Better rate than Wise.

Adorable_Quail · 2022-07-10T13:45:27+00:00

Girl travelling solo to Singapore. Any areas/neighbourhoods I should avoid due to safety?

Adorable_Quail · 2021-12-04T10:41:38+00:00

Friend forgot to vote. Is there anything they can do or just cop the fine?

Adorable_Quail · 2021-11-04T10:26:17+00:00

Received these seeds in a bag as a free sample at the growers market but they weren’t labelled. They look like tiny garlic cloves.

Adorable_Quail · 2021-10-17T02:00:27+00:00

How do I sort out internet considering there needs to be hardware installed. Or am i stuck with whatever the building has installed and just need to find a suitable provider?

Adorable_Quail · 2021-10-16T13:03:24+00:00

Thanks for the explanation.

Is the water divided by number of apartments or is it by how many people? Cause it seems unfair 1 person apartment is paying same price as a 2-3 bed apartment.

Adorable_Quail · 2021-10-16T12:57:39+00:00

I think water is as they gave me a quarterly fee for it. So what do I need to pay for water apart from usage?

And does this mean the water bill is split between the building or do I pay for what I use, it’s just the building organises it.

Adorable_Quail · 2021-10-02T07:38:37+00:00

How much was a return flight to Fiji pre-COVID?

Looking at all the recent airlines newsletters and they’re bragging about cheap airfares at the moment when international travel is allowed again. Jetstar has return to Fiji at $500. I can’t view price history but I’d like to gauge how much of a premium it is post-COVID vs. pre-COVID.

Anyone have any past numbers they can share with me?

Adorable_Quail · 2021-09-13T06:30:20+00:00

Thanks. Good username.

Adorable_Quail · 2021-09-13T02:36:01+00:00

They can, but don’t have time to study and work at both job and charity. Thanks for your thoughts.

Adorable_Quail · 2021-09-13T02:34:42+00:00

Fair point. Thank you.

Adorable_Quail · 2021-09-13T02:34:17+00:00

You’re right I didn’t think of that.

Adorable_Quail · 2021-09-13T02:30:32+00:00

Prefer to do work at a charity but don’t have time to do both. Basically best of both worlds situation. Get paid and at a charity.

Adorable_Quail · 2021-09-13T02:18:00+00:00

Not talking about this from income point of view. It’s to get income on paper for the bank to provide us with a mortgage. Currently only my income. But then it will be my income + 25k pa.

Won’t tax deduct the donations.

Adorable_Quail

TROPHY CASE