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Members who are already in their retirement phase, and who have balances above $1.6m, will be required to reduce their retirement balance to $1.6m by 1 July 2017 and put the excess balance in an accumulation account, where it will be taxed at 15%.
"It may be beneficial to reconsider the kind of work and retirement balance that we've established," he said.
Plus, you'll be doing your future self a favor by increasing your retirement balance.
Similar(57)
I'm a long-term investor and prefer not to see my retirement balances as real numbers for now.
"The fact is, halving the capital gains tax discount for super funds will hit the retirement balances of millions of Australians".
--Every additiofal year of income is a year in which you don't support yourself by drawing down retirement balances.
Upon retirement, the balance tips the other way.
He's trying not to look at his retirement account balance.
For workers, the loss of a matching contribution heightens the pain of a retirement account balance shriveling away because of the plunging stocks markets.
It is certainly unsettling to see your retirement account balance tumble precipitously as the gears of your mind spin furiously to rethink everything from how long you'll have to keep working to how much you'll have to scale back your lifestyle.
Your marriage, your personal happiness, and your retirement account balance will benefit.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com