Social Security

We help you look at what is possible. We take it into account.  We then suggest you use Centrelink’s free but very thoughtful financial advisers.   They treat you as clients not enemy and can outline a generic basic plan.  They can not advise on the particular investments to use, but can tell you the effect of the different types.  We can help more from there.

Our strategy plans and specific investment recommendations for clients are made in full knowledge of the Social Security rules.  .

Some points we find interesting…….   (subject of course to update and to personal advice)

• Your residence of any value and on up to 2 hectares is not an “asset”  and anything paid to you by your offspring and their family for living in your home is not “income.”    We rather like the idea of a large multi generation home owned by the elders, with a great workshop, permaculture food garden and aquaponics, ultra passive solar low energy design, solar panels and hot water, natural cellar or coolroom, hydrotherapy plunge pool and japanese hot tub, low maintenance construction, wheelchair friendly, close to all services and interests and with a spare room for the wwoofers, gardener, student or housekeeper, or a separate zone for the son or daughter and their whole family.  None of which is “an asset”  .
• Assets inherited in a properly written testamentary trust might not be assets under the pension assets test. Planning is worth doing for the death of either one of a pensioner couple.
• A couple with a home and almost a million in “assets” may qualify for the first dollar (and health card)  of an aged pension.   1 in 7 people have too much money. 1 in 7 have only the pension and 5 of 7 are in between living on a combination of pension and other income.
• If you do some part time paid employment as a pensioner the first $6500 each you earn as wages is not counted as income.
• If you are under 65 on a “benefit” , not aged pension, then your genuinely saved up superannuation account is not counted as an asset or as available cash for income.  It is accepted that your superannuation is there for retirement.