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How much superannuation is enough? Retirement Financial Planning

Others may be hoping to retire earlier because their current job is physically demanding.

Whatever your retirement goals, making sure you fulfil them is largely down to how much you have saved in your super. The government Age Pension may seem like a reassuring safety net, but it’s not really designed to fund the standard of living you’re probably hoping for.

With life expectancy for a 60 year old expected to rise from 86 for men and 89 for women now to 91 and 93 respectively by 2055, many of us will spend more than a quarter of our life retired.1 And as our population ages, it’s likely age pension entitlements will continue to change – making it more important than ever to be self-sufficient in retirement.

The life expectancy of Australians continues to rise, so you could spend more than a quarter of your life retired.

So when Retirement Financial planning you ask when can I retire?

The first decision you need to make is when to retire – and this will depend on many personal considerations. Start by checking your age pension entitlement age and ‘preservation age’ (when you can access your super) here.

For example, if you’re born in 1957 you’ll be eligible for the age pension at 67 but you can access your superannuation savings from the age of 55.

The amount of super you will need once you retire depends on:

the lifestyle you want
your health and medical bills
how long you live after retirement
any other one off or ongoing repayments or financial responsibilities.
The Association of Superannuation Funds of Australia (ASFA) Retirement Standard2 benchmarks the annual budget needed by Australians to fund either a comfortable or modest standard of living when they retire, and is updated quarterly.

ASFA defines three levels of living standards, and assumes you own your home outright and are relatively healthy.

Comfortable

A comfortable retiree could afford a decent annual holiday in Australia and eat out regularly at good restaurants. You would be able to make home improvements, have a reasonable car and hold private health insurance.

Modest

A modest lifestyle could afford you short holiday breaks in Australia, with some cheaper eating out at local restaurants. You could repair your home but wouldn’t have the funds for any major improvements. You might have an older car and private health insurance.

Basic

If you need to rely solely on the age pension, you would find additional expenses such as car repairs, leaking roofs and holidays a challenge. Even heating bills could cause you financial stress.

How much money will I need?

According to the ASFA Retirement Standard, a couple that owns their home and is relatively healthy needs $34,051 a year for a ‘modest’ lifestyle. For more ‘comfortable’ this rises to $58,784 a year. You can take a look at how this budget works out here.

So as part of your Retirement Financial planning saving enough for a comfortable retirement could be a challenge for a couple on the average wage. According to a 2015 report from the Australian Institute of Superannuation Trustees (AIST), a full-time worker on average wages from 1992 (when compulsory super began) to 2014 should have super assets of around $131,000, based on compulsory employer superannuation contributions alone.3 So without additional voluntary superannuation contributions being made by that full-time worker, they are likely to have a significant funding gap between their current super assets and the amount they need.

Remember, the ASFA figures are benchmarks that exist to help you work out if you have the super savings to fund the retirement lifestyle you want, and everyone’s expectations are different hence why Retirement Financial planning is personalise matter. Another approach is to assume you need two-thirds of your current salary to keep living the same sort of lifestyle you currently have.

It’s never too late to save

Even if you make modest additional contributions to your super later in life, it could still make a difference to the type of retirement you enjoy.

So, if you’ve identified a difference between your super balance and the benchmark figures required Retirement Financial planning is a must.

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What Is The Best Natural And Herbal Cure For Hemorrhoids, Piles?

What are hemorrhoids?

Hemorrhoids or piles often occur when the veins of the anus or rectum become inflamed due to extreme strain on that area. It occurs because of inactive lifestyle, thus leading to poor bowel movements.

Any kind of illness, though temporary, causes a big hurdle to our daily work schedule. It would be much better if we take preventive measure in order to skip them at first place. There are ways of improving some of the habits by making a slight shift and living an ill-free lifestyle. Some of them are:
1. Add fiber intake: The fiber intake helps in digesting food very well. So, add up fiber rice food in your diet such as green leafy vegetables (spinach, cauliflower, cabbage, broccoli, watercress, etc.), fruits, whole wheat grains (oats, wheat, brown rice, brown bread, etc.), berries (strawberries, blueberries, cranberries, etc.), nuts, beans (kidney, lima, green, adzuki, black-eyed, etc.).
2. Have yogurt: Yogurt allows the proper digestion to us by giving lubrication to bowels. It would be a good choice if you add yogurt in your lunch time almost daily.
3. Take fluids in plenty: Water intake should be at least 3 liters per day. Other than just water, having fresh citrus fruit juice would be an excellent option as they also contain much of Vitamins.
4. Never skip going bathroom: Whenever you feel like going to bathroom immediately, never wait for some convenient time. Skipping bowel movements may lead to constipation and then causes hemorrhoids.

Above mentioned instructions should be followed in order to prevent piles or to cure piles soon along with the medications prescribed to you. Your old eating habits are not the solution as it would re-occur soon. In order to get rid of hemorrhoids forever, there exists even a better remedy. You must be an extremely busy person, a full-time mother of 2 or 3 children or the only person financing the whole family, or are not financially that stable who could afford such medications on a regular basis.

We have much better solution to you. Our methods are of world-class standard and meet everyone’s requirements in a very efficient manner. Our clients are the most satisfied ones and are permanent. Our treatment is reliable and we provide the promising results. Your good health is our main concern so accordingly we help in providing the solution with utmost care.

Pilesgon capsules are the most trustworthy natural and herbal cure for hemorrhoids that helps in strengthening the anal lining and providing the healthy cell formation so as to heal the walls of anal canal making it more flexible. It is the herbal cure for hemorrhoids that saves people from surgical treatments and provides long-lasting relief. Other symptoms such as burning sensation while sitting or walking, itch feeling, and bleeding are also suppressed by Pilesgon capsules. It is suitable for persons of any age group who faced piles for whatever reason, be it genetics, poor digestive system, pregnancy or heavy weight lifting. Pilesgon capsule is the one solution for all.

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5 Ways IT Consulting Services Can Benefit Your Business

What is IT consulting? It is the term used to refer to the technology and business consulting services that help a business develop and implement strategies to make the best use of information technology (IT) in making their business goals a reality. There are different kinds of services that are offered under it and which of these the business seeks, depends solely on its requirements. Some examples of IT Consulting services are as follows:

Information Security
Custom Software
IT Management
Internet of Things
Intranets
Knowledge Management
Big Data Analytics and BI
System Integration
Digital Transformation
Why Enterprises Need IT Consulting Services

Technology is advancing at a rapid pace and enterprises across industries are required to stay updated with all the latest technology in order to stay relevant in the highly competitive market. However, hiring an in-house team for each of the IT services is not always a good option. This is because of the difficulty in finding highly skilled professionals for every field and also, the costs involved. Hence, it is a good idea for enterprises to invest in IT Consulting Services, where they can get access to the most advanced services without investing a lot of money. Leading IT firms like The Digital Group and Hexaware offer all the IT services that enterprises might need.

Interestingly, the global market is anywhere around 439 billion U.S. dollar and this is only going to increase in the near future. One might wonder about the many benefits that they offer, which makes enterprises across the globe want to invest in it.

1] Helps the Business Save Money

The ROI is one of the biggest factors motivating a business to take certain decisions. When it comes to these services, the low initial investment and high ROI are big factors in their favour. After all, it allows businesses the privilege to get access to expert teams without the high cost of hiring an in-house team.

2] Makes it Easy to Manage Big Dara

Big Data and its management is one of the biggest challenges faced by enterprises today. For this, enterprises need data management services, in order to analyze the Big Data for useful insights. These insights can help in the formulation of strategies for boost in sales and enhanced customer service. Consulting services offer the expertise required for this.

3] Availability of Support 24×7

This is one of the biggest benefits of investing in IT consulting services. When you have access to 24×7 support offered by the team, it becomes easier to tackle the issues that crop up on a day to day basis. However, when the responsivity lies with an in-house team instead, it can be really challenging for the team to stay updated on all the latest technology in order to tackle the issues.

4] Significant Increase in Productivity

Just as mentioned in the previous post, with access to 24×7 support by experts, it becomes easier to tackle issues and resolve them on time. This reduces the chances of long durations of system breakdowns, which results in boost in creativity.

5] Staying Updated with the Latest Technology

When there is a team of experts working on your project, it becomes easier to ensure that only the latest technology is being used on your projects. This requires a lot of effort from an in-house team, as the enterprise would need to have a team exclusively for research.

That was about the biggest benefits that IT consulting services can bring to your business. However, before one chooses to partner with a firm, it is important to make sure they choose a firm that has expertise of working for other industries in their domain. Also, the firm should be such that it makes an effort to analyze the requirements of the business.

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