Use a TTR for lifestyle balance
A TTR strategy allows you to work less but maintain your income.
Case study - Jan cuts down on her working hours
Jan would like to cut back her hours at work, without changing her take-home income. Here's how a TTR income stream could help:
| Current age | Current income | Current super balance | Super amount moved to TTR income stream |
| 62 | $94,000 | $400,000 | $300,000 |
Jan moves $300,000 of her super into a TTR income stream & uses a TTR income stream to supplement the reduced salary she receives by working 4 days a week.
| Work |
Salary $ |
+ |
TTR income stream payment $ |
= | Take home income $ |
|
| Current situation | 5 days a week | $5,859 per month | + | n/a | = | $5,859 per month |
| Moving to part time | 4 days a week | $4,853 per month | + | $1,000 per month | = | $5,853 per month |
With a transition to Retirement income stream, Jan's after-tax income can stay the same, even though she's working less.
Assumptions:- Calculations based on 2018/2019 marginal tax rates (including Medicare levy).
Need help setting up a TTR strategy?
TelstraSuper Financial Planning can provide you with general and simple personal advice over the phone about your TelstraSuper account and your retirement planning options. There's no additional cost for our phone based advice as this is included in your TelstraSuper membership. Call us on 1300 033 166.
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