Laura Herman’s Post

Enhancing EPF Contributions: A Pathway to Secure Future Savings In today’s fast-paced financial landscape, ensuring robust, long-term savings is more important than ever. One effective way to build a secure retirement nest egg is by increasing our EPF contributions voluntarily. For the past 12 years, I've been contributing above the usual rates & gradually increased the percentage upon every salary adjustments😊. While this may mean a slight reduction in take-home pay today or living below your means, the benefits are manifold: 🔹 Strengthening Retirement Savings: A higher EPF contribution means more funds are set aside for the future. Over time, with the power of compounding, even a small increase in contributions can grow substantially, building a strong safety net for retirement years. This ensures you are better prepared to enjoy a comfortable, stress-free post-retirement life. 🔹 Compounding Growth: By contributing more, you can leverage the power of compounding, where the return on investments grows exponentially over time, which also means additional passive income during the annual EPF Declaration. 🔹 Financial Discipline: Increased contributions encourage a disciplined savings approach, ensuring a portion of earnings is consistently set aside for future needs, post grad degrees/education 👩🎓 or even downpayment for your own house! 🏠

I am looking forward to talking with people at this Summit, my 2 subjects are on simplifying lean and on What is and more accurately what isn't lean?

In honor of 5/29, have you heard about the new flexibility for 529 education savings accounts? Starting in 2024, Secure Act 2.0 has enabled the tax-free transfer of unused funds from 529 education savings plans into Roth IRAs. Reach out if you are interested in learning more! #529 #educationsavings #RothIRA

-- 3 Years Lock In -- 80 C Deductions (enjoy up to INR 46,800 annually) -- Taxable Returns but look at them ~ 16.33% over the last 2 decades & more A fantastic investment alternative. Equity Linked Savings Scheme (ELSS) #elss #taxbenefits #investmentalternative #lockin #lowlockin #superior #returns Watch more about this on my You Tube Channel

"Claiming Social Security early can reduce monthly benefits by as much as 30%, while delaying benefits will permanently increase benefits. Are your clients aware of how timing impacts their lifetime benefits? Let’s ensure they claim at the right time! #SocialSecurity #RetirementStrategies #AdvisorEducation #ClientEngagement #NSSAPros",buff.ly/4i1HvaL

The DIFC Foundations Regime was setup to provide a common law substitute for trusts in financial planning and structuring purposes. Like trusts, foundations can be used for a number of purposes such as asset protection, succession and tax planning, asset management, corporate structuring, and public interest foundations that serve multiple generations. 📽️Do watch the Video about DIFC Foundations | Benefits of Setting up Foundation in DIFC | DIFC Foundation Cost - 10 Leaves: https://lnkd.in/gnYcZ4rw #10Leaves #DIFC #Foundations #BenefitsofSettingupaFoundations

The ATO took the time to have another look at our remission application for a husband and wife who have endured years of family struggles. Life was far from easy! The ATO often falls on the phrase "If you can run a business you can organise your taxes". This is not always true, I would say, it is rarely true! Running a business may mean you're a great baker, electrician, plumber, or salesman and you do that with ease, on autopilot for those who love their craft. Organising taxes takes effort for most and when life throws you a tragedy or sickness you may still go to work because that takes very little effort, it's actually what keeps you sane. During hard times, keeping up to date with taxes, all of a sudden can feel impossible. I digress, my apologies but I do hope you enjoy our latest case scenario. If you know of anyone who needs a specialist to help with negotiating with the ATO on tax debt, reach out to us at Tax Debt Solutions Australia. For business enquiries: 📩 [email protected] 📞 1300 310 469 🖥 www.tdsau.com.au #taxdebt #accountants #interestremission

I applaud this scheme. It would be good to see a coherent children's and young people's framework to support a socially just allocation of funding to local areas/organisations working in a systematic manner with other departments and organisations (e.g. Department for Education Sport England). By mapping inputs and outputs across programmes, the whole will most likely be greater than the sum of the parts. https://lnkd.in/eHyKeXqc

Do you have a SMSF? Then this article is for you. Our SMSF expert, Annette, explains what concessional contribution splitting is and how it works. She also covers: - the 5-year unused concessional contributions rule - Why one would split super contributions, and - Conditions to meet in order to split contributions Need some help with your SMSF? Get in touch with the team at ABA. Advice Beyond Accounting. We'll ensure that you fund is ATO compliant and delivers growth on your investment. #abaadvicebeyondaccounting #SMSF #super #superannuation #supercontributions