Lump sum

That's pivot a little bit.

I think, I don't know about you, but a lot of my readers on the blog have asked me about lump sum versus dollar cost averaging.

Actually, a lot of coaching clients also ask the same thing.

It's like, If I just get a big check from, you know, a big bonus from full-time employment or inheritance, so on, what should I do? We're talking about, you know, it could be $10,000, $50,000, $100,000 or more.

So that's kind of like the first thing I think to think about.

Worry maybe less about what's right and worry more about, you know, what's right for you.

Now, however, saying that, you know, I do have a idea of what I would do anyway if I had a lump sum.

But before I do that, let's talk about what you think, Bob.

You've got to think about the longevity of your super over time as well.

So if you start accessing it and accessing lump sums, it's still got to last a long time.

So we're all living well into our 80s, if not 90s, and we want our super to have longevity and to last that time.

It might be supplemented a little bit by age pension as well, but it's really important to think about those things as well.

So let me talk a little bit more about it.

So at the moment, a member might be in an accumulation fund.

So you can take lump sums out when you've retired, which is great, and it's tax free because you're over the age of 60.

But your investment returns are taxed up to 15%.

Wait, say 600 mil.

Are you talking about the lump sum? Are you talking about that's what the lottery is? That's what you're getting? Like what are we talking

about? Oh, like, oh, well, okay.

Say 600 mil, but obviously you're going to take out taxes.

See what they do with it.

And then when you're good on the two $500s that you've given them, then you may give them another $500.

We'll call that lump sumping.

You know, you love some, love some of them.