CAIRNS (07) 40315905 also at | SYDNEY SOUTHPORT | IVANHOE 

A house in your teens and retiring early

Fairfax Newspaper- 29th May 2019

Darwin Twilight Waterfront

Nina Hendy reporter for Fairfax Newspapers interviewed Peter Horsfield about retiring early and strategies to grow your wealth.
 
Frugal people are prudent savers and live a deliberately economical life. This can mean different things to different people.
 
Peter Horsfield, 48, and his wife Rosalind save around $50,000 a year by implementing smarter ways to keep more money in their pockets.
 
The couple run a small financial planning business, paying themselves $100,000 ($73,060 after tax) each per year.
 
They apply salary sacrificing of up to $25,000 each into superannuation, minimising their taxable income down to $75,000, saving $4825 in tax each per year, or $9650 annually.
“The benefit of doing this is that it not only moves us into a lower tax bracket, our money also grows in a low tax environment," Peter says"
 
PS. We still pay tax, quite a bit actually in both our personal and company tax returns, so the article is a bit of a misrepresentation. The point I was emphasizing with the reporter is ......
 
"financial independence is not a sprint, it's a marathon, and saving regularly along with patience is the key to financial success".
 
Hide comment form

1000 Characters left


Copyright
© Copyright 2012-2020 Investsure Holding Pty Ltd.
All Rights Reserved
Sitemap 
Social Media
Investsure Holdings Pty Ltd ABN 16 050 286 630 \(t/as Horsfield & Associates\) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049, who holds an AFSL and Australian Credit License No. 236523.
Information published on this website has been prepared for general information purposes only and not as specific advice to any person. Any advice contained in this document is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs. Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. Past performance of financial products is no assurance of future performance.