Use a transition to retirement pension to fund a tax deduction, save money or pay down a home loan

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired live on Friday 30 May 2025. The topic for this week is: What are your transition to retirement options? What goals can the strategy help you achieve? With the end of year now just a weeks away, now is the time to get your planning sorted, like accessing your super while you’re still working if you’ve reached your preservation age (usually 60). Thank you for joining us live on 2CC, YouTube or your favourite podcast streaming service with ‘The Strategy Stacker – Luke Talks Money’. Key topics covered include: What is a transition to retirement pension? How can you use it to fund a contribution to super this financial year (or next)? How much of your super balance can you start a transition to retirement pension? Do you pay tax withdrawing money from super? No! Can you add it back into super and claim it as a tax deduction? What else can you use the money for? Do you have a mortgage that needs paying off? Transition to retirement provides opportunities while you’re still working – even if you’re working full time! How often do you need to a payment from a transition to retirement account? How do you use it to reduce your working hours and supplement your income? Why is it important to keep a super account open, when you start a transition to retirement account? Can you start a transition to retirement pension if you’re in a defined benefit fund like CSS? How is your money invested in a transition to retirement account? Remember it’s a busy time of year for super funds so don’t leave your end of financial planning to the last minute! Luke shares his top tips to think about when approaching the transition to retirement strategy. Do you need help with end of financial year planning including your transition to retirement options? Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement (including transition to retirement). Simply make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation. We look forward to your company again and Luke’s book Smart Money Strategy is out now. For more information visit: https://thestrategystacker.com.au/ Follow us on YouTube:    / @thestrategystacker   Follow us on Facebook:   / envisionfinancial1   Follow us on LinkedIn:   / luke-smith-26a4ba16   Follow us on TikTok:   / thestrategystacker   Follow us on X:   / envisionadvice   Listen on Spotify: https://open.spotify.com/show/2V0zIrO... Listen on Apple Music: https://podcasts.apple.com/au/podcast... Listen on iHeartRadio: https://www.iheart.com/podcast/256-th... What to hear about a specific financial planning topic? Ask Luke your question here: https://thestrategystacker.com.au/ask...