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Super Freedom: Create a Worry-Free Financial Future in 6 Steps

Book Description

Super Freedom is just that ? a guide for women to super. This guide has a strong, aspirational focus on whatsuperannuation can provide for women, regardless of their marital circumstances, age or even their currentsuperannuation balances. For women it?s not so much about the actual amount of super they have, but what they cando with it, eg travel, shop, live.

Throwing aside the shackles of jargon and terminology, Trish Power?s guide tosuperannuation for women, provides with women with everything they need to know about how much super theyneed, getting their super set up, how to increase their super balance, how to move into retirement, insurance andestate planning.

Table of Contents

  1. Cover
  2. Table of Contents
  3. Title Page
  4. About the author
  5. Chapter 1: It's never too late or too early to create a super future
    1. Wealth is in the eye of the beholder
    2. It's never too late to start, or too early to think about it
    3. Okay, what's so great about boring superannuation?
  6. Chapter 2: Getting the monkeys off your back: what's stopping you from taking super control?
    1. Naming the top 14 monkeys holding back super plans
    2. Monkey 1: Superannuation is boring, and I'm only reading this book because a girlfriend gave it to me as a gift
    3. Monkey 2: I don't know enough about investing and super
    4. Monkey 3: I only have $15 000 in super. What's the point?
    5. Monkey 4: I can't afford to buy a house; retirement is the least of my worries
    6. Monkey 5: Paying off my house is more important than putting money into super
    7. Monkey 6: I'm not working, so how can I possibly think about saving for retirement?
    8. Monkey 7: I'm too busy with my kids to think about super and investing
    9. Monkey 8: We have a mortgage and we are paying school fees - we have no spare cash to put into super
    10. Monkey 9: I'm divorced and raising children - I don't think I'll ever be able to retire
    11. Monkey 10: I'm in my fifties, and now it's too late
    12. Monkey 11: My husband/partner is my retirement plan
    13. Monkey 12: My husband/partner looks after all of our finances
    14. Monkey 13: I have super but I don't know where it is
    15. Monkey 14: I'm self-employed and superannuation is not a priority
  7. Chapter 3: Investing for super beginners
    1. Drumroll - the key elements of wealth generation
    2. Saving money is different from investing
    3. Diversification - balancing return with necessary risk
    4. Creating and protecting your wealth for retirement
  8. Chapter 4: Your Six-Step Wealth Check: how much money is enough?
    1. Introducing Trish's Six-Step Wealth Check
    2. Step 1: Choose your lifestyle - what type of life do you want in retirement?
    3. Step 2: Calculate the cost of your chosen lifestyle - how much does such a lifestyle cost each week, or each year?
    4. Step 3: Calculate the lump sum amount needed for your chosen lifestyle - your retirement savings target
    5. Step 4: Do a financial stocktake today
    6. Step 5: Do a financial stocktake for tomorrow
    7. Step 6: Close your retirement gap
  9. Chapter 5: Case study - I'm 52. Is it too late to start saving?
    1. Irene's story: the facts
    2. Age Pension: is it 65 or 67?
    3. Irene's Six-Step Wealth Check - how a little effort can make a huge difference
  10. Chapter 6: A short course in super: the basics and the best bits
    1. Why does superannuation exist?
    2. How the super world works
    3. And here's what the super rules can do for you
    4. Superannuation guarantee is a great start
    5. Your own contributions and all that jazz
    6. Super delivers a triple bonus in tax savings
    7. How does your super fund invest your money?
  11. Chapter 7: Doing a little: turn $4500 into $300 000 the easy way
    1. How four women turned $4500 into $300 000 the easy way
    2. Case study 1 (age 25): Chrissy's counting on a cushy retirement
    3. Case study 2 (age 35): Julie's jump in retirement expectations
    4. Case study 3 (age 45): Sahn is sitting pretty for her retirement
    5. Case study 4 (age 55): Lily's loving her new retirement plan
  12. Chapter 8: Doing a lot: making $1 million is possible, but it takes a super plan
    1. Your retirement dream is closer than you think
    2. Wanting more than $39 000 (single) or $54 000 (couple) a year in retirement, with no Age Pension
    3. Winning lotto is not the only way to score $1 million
    4. Change your financial future, in at least nine ways
  13. Chapter 9: Case studies - four women create $1 million nest eggs
    1. Case study 1 (age 30): Kim's high expectations can be met
    2. Case study 2 (age 35): Sal splits her super strategy with her spouse
    3. Case study 3 (age 45): Maree learns lots about long-term saving
    4. Case study 4 (age 55): Julianne's jolly glad good things come to those who plan
  14. Chapter 10: Boost your super: 15 tips to help you create a worry-free financial future
    1. Super quick fixes can save thousands of dollars
    2. Simple, and free, super strategies for building a larger nest egg
    3. Strategies to rev up your super balance in a major way
  15. Chapter 11: What happens when I retire? Super benefits, the Age Pension, tax and other stuff
    1. Are you planning to retire early?
    2. How long does your money have to last?
    3. When can you get the Age Pension?
    4. When can you access your super benefits?
    5. What tax do you pay on your super benefits when you retire?
    6. What tax do you pay on your non-super income and savings?
  16. Chapter 12: Next step - financial freedom!
    1. Try the Six-Step Wealth Check at home
    2. Seek out further information
    3. Seek financial advice if you need it
  17. Appendix: A short guide to the free calculators, table assumptions and tax rates