With the intenton of retiring in a few years, should I increase my
super contributions or try some other type of investment strategy?
Q.
I am 53 years old, married and have a combined income of
$100,000 per year. We have two houses worth $600,000, shares of
$200,000, have no debts and I currently salary sacrifice $800 a
week into my super fund - worth $370,000. As I would like to retire
at 58, should I increase my super contributions or try some other
type of investment strategy?
A.
You would appear to have adequate assets for a comfortable
retirement and at 53 it is probably getting a bit late to start
borrowing for investment. Maximum salary sacrifice is the perfect
investment strategy for you but you should take advice to ensure
that the mix of assets you have within the superannuation fund
matches your goals and risk profile. You should also consider
moving the shares into superannuation if this can be done without
paying a large sum in capital gains tax.
Each week financial advisor Noel Whittaker answers your
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