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Financial Advice for new job

Discussion in 'Accounting & Tax' started by Jelsa2, 17th Jul, 2015.

  1. Jelsa2

    Jelsa2 Member

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    hi All not sure where this might fit. I am moving jobs and working in the welfare industry and therefore access to salary sacrifice set up. I need financial advice to make sure i am using this structure to my best advantage. Hoping to retire from full time work in around 4 years so anything I set up from now on is important.

    I live in Mandurah WA and would welcome any recommendations of a good financial advisor who can advise me.

    Thanks guys
     
  2. thatbum

    thatbum Well-Known Member

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    Wouldnt it be as simple as salary sacrifice as much as you can?

    That's pretty much what I did.
     
  3. wylie

    wylie Moderator Staff Member

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    Are you retired? I think of you as about 32, dark hair, tall, slim, vegetarian maybe?

    I have no idea why but it is just how I picture you - like when you read a novel and get a picture in your head of what the characters look like.

    Now I am wondering if you look more like Rumpole? :p
     
  4. Heinz57

    Heinz57 Well-Known Member

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    Salary sacrifice to the max if you can, but also check you are comfortable with your asset allocation within the fund. Also industry funds usually have lower fees than the flashy ones that financial advisors try to sell you.
     
  5. HD_ACE

    HD_ACE Game-Changer Premium Member

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    His Avatar is a selfie from the last SS meet.

     
  6. thatbum

    thatbum Well-Known Member

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    Oh I didn't mean to a fund, I meant to cover personal expenses essentially. I'm guessing its one of those public benevolent institutions that pretty much let you sal sac to anything - like a credit card.
     
  7. Heinz57

    Heinz57 Well-Known Member

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    Ah, right. I read "retirement" and thought "super"
     
  8. thatbum

    thatbum Well-Known Member

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    Haha not quite with the description, but I definitely don't look like Rumpole (I had to google who he was).

    I definitely have hippy tendencies if that's where you were going though. And aiming to retire quite early on a small passive income (at 35 or so. I'm 30 at the moment).
     
  9. Jelsa2

    Jelsa2 Member

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    Hi all
    Thanks for your responses. Yes I can salary sacrifice a certain amount but I can also put money into an entertainment card which I've had before but I don't believe I used this function to my advantage. I believe I could get my taxable income down quite a bit if I use this in a smart way. I think I can only salary sacrifice 35000 per year but this is above the salary sacrifice amount. So I need to find someon I can have a conversation with around setting it up correctly.
     
  10. D.T.

    D.T. Adelaide Property Manager Business Member

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    having met "thatbum", this post made me lol :)
     
  11. mrdobalina

    mrdobalina Well-Known Member

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    You can retire to live in your renovated church ;). How's that going?
     
  12. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    Advice on salary sacrifice under the benevolent exemptions shouldn't need financial advice. Its not like you are Sal Sac to super. Its tax advice. All employers say that. Every nurse, church employee etc gets same story.