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superannuation and salary


traceyd

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Hi all,

I am planning on emigrating next year and am a nurse, having been qualified for 8 years so have been told that I will be looking at a salary of about $70000 annually. Does anyone know how much that would be in take home pay a month? Also, I am worried about retirement and know that employers pay 9% into superannuation, but I am 40 years old and wonder how much extra I would have to pay a month to get a decent salary. Any advice is appreciated.

Tracey

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Guest VickyMel

Someone on here pointed me to this site which I am finding useful

 

http://www.paycalculator.com.au/

 

Put your expected salary in - tick whether or not that includes super and it will tell you your take home by week/fortnight and month

 

Just put in 70,000 (including super) and it suggests that you would be brining home $4212 / month

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If you can afford to I recommend trying to match the employee contribution as a salary sacrifice pre tax contribution. So they put in 9%, you put in 9% too.

If you don't have much super already then you really do need to put in a decent amount to ensure a reasonable amount in 20 years time.

Also I would research the various funds, choose one with a good track record and low fees. You should be targetting a growth option given you have at least 20 years to retirement.

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Another benefit available to nurses is salary sacrificing things like rent, mortgage or even daily living costs - be sure to check them out early on as it will effectively give you another $16k tax free.

 

I agree with Parleycross, sacrifice as much as you can into super because the standard 9% is going to go nowhere near a comfortable retirement. Get advice from a financial planner to see how you can maximise your options

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Guest Deacons

Migration is always a complex process and you have to analyze the migrations rules and regulations very closely and make a strategy in order to apply for the specific position the country.

 

personal loans bangalore

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