SuperMod

This app is designed to help you understand your superannuation burndown, with consideration for your inbound and outbound cashflow (e.g. income from paid work, age pension, HEAS payments, budget spikes, etc). Will This Work for You? SuperMod will help people who are close to retirement, or who have retired, and who have a superannuation fund. A maximum of two superannuation funds can be modelled. Here are some constraints you need to be aware of: * You can record current work income and a future retirement date. You cannot record multiple anticipated changes to your gross income, and pre/post super contributions. This is why you need to be close to retirement (or not expecting a pay rise between now and when you retire!). * The income test currently only considers income from paid work and from deemed interested on applicable financial assets. It does not include: * Net profit (gross income minus allowable deductions) from operating as a sole trader or in a partnership. * Rental income from investment properties, including money received from boarders or lodgers (excluding immediate family members). * Distributions, dividends, or attributed income from private companies and private trusts. * Payments from account-based pensions, annuities, and overseas pensions or benefits from outside Australia * Director's fees, Paid Parental Leave, certain scholarships, and regular lump sums or gifts. * Only normal pension and supplement rates are included in models. Transitional rates are not included. * Income and asset test calculations use standard rules relating to people who are single, couple each or couple combined. The model also caters for people receiving rental assistance, or living apart due to ill health. * Will it work for self-managed super funds? SuperMod has been designed for the "common path" - one or two people with an industry or retail fund each. But hey - give it a shot! How Does It Work? In order to generate a meaningful model, you need to complete the following steps: 1. Enter Your Details: Work through each page and enter the people in the model, non-financial and financial assets, work income details, super details and any Home Equity Access Scheme applications that you might also want to model. 2. Check the Settings pages: Work through each page and check that the pension rates are current (they should be if you've just installed the app), and living allowances over time are reasonable. Importantly, ensure that you've added a few budget spikes that are representative of future big credits and debits. 3. Model your data: Once all the details have been entered, go to the Model Summary page to generate a model. Once the model has been generated, you can view your burndown graphically, or use the Forecast for a description of your financial standing on a given model day in the future. See the Welcome content in the app for a description of how CPI is applied.