Frequently Asked Questions
The questions we get asked most, answered in plain English. If you can't find what you're looking for, get in touch or book a meeting. There's no cost and no pressure.
Popular questions
How much does financial advice cost?
Our fees depend on scope. A retirement plan is typically $3,500 to $6,500. Insurance advice $1,500 to $4,500. Age Pension guidance $1,500 to $3,500. Ongoing advice services are either a percentage of managed assets (0.5%-1.0%) or a fixed annual fee. Everything is quoted in writing before any work starts. Read more: What a Financial Adviser Costs in Australia.
Do you offer a free initial consultation?
Yes. We offer a free 20-minute call and, if we're both happy to continue, a free discovery meeting (60 to 90 minutes). You only pay if and when you proceed with a written plan. No pressure, no commitment.
Do you take commissions?
No. We're fee-based. Any commission an insurer would otherwise pay is rebated or the premium reduced accordingly. Fund managers don't pay us either. Our fee is what you pay us for advice, and that's it.
What's the process for getting started?
Book a meeting (online or by phone). If we're a fit, we'll schedule a discovery meeting, still no charge. After that, if you want to proceed, we'll scope the work and quote a written fee. Once you agree, we build your plan, meet to walk you through it, and implement the recommendations together. Then we review it with you every year.
How much super do I need to retire comfortably?
The ASFA Retirement Standard (March 2026) suggests a homeowner couple needs around $690,000 and a single person around $595,000 for a comfortable retirement, assuming a part Age Pension. Your actual target depends on lifestyle, home ownership, and health. Read more: How Much Super Do I Need to Retire Comfortably?
About Great Advice
What makes Great Advice different from other financial advisers?
We're a boutique, specialist advisory practice focused on pre-retirees and retirees in the Logan corridor and Greater Brisbane. We're fee-based (no product commissions), we're not tied to any bank, and we work with a small enough client base that you actually speak to your adviser, not a junior or call centre. With a 5.0-star Google rating from 58+ reviews, our clients trust us, and that trust is something we work hard to keep.
Are you independent?
Legally, no Australian adviser who works under an AFSL licensee can describe themselves as "independent" (s923A of the Corporations Act). We're a Corporate Authorised Representative of Akumin Financial Planning Pty Ltd (AFSL 232706). We are not owned by or aligned with any bank, super fund, or product manufacturer. In practice, our advice is aligned entirely with your best interest and we don't receive product commissions.
What areas do you service?
Our office is in Springwood, QLD, and we service clients across the Logan corridor (Daisy Hill, Shailer Park, Rochedale South, Underwood, Slacks Creek, Loganholme, Cornubia, Meadowbrook, Eight Mile Plains, Rochedale). We also work with clients across Greater Brisbane and the Gold Coast. Meetings are available face-to-face at our Springwood office or by video.
How many clients do you work with?
We keep our client base deliberately small so every client gets proper attention. That means we're selective about who we take on. In return, you get direct access to your adviser, meaningful annual reviews, and responses to emails and calls that come from the person actually managing your plan.
Retirement Planning
When should I start planning for retirement?
Ideally, 10 to 15 years out. The biggest levers (contribution strategies, debt payoff, investment allocation) need time to play out. That said, it's never too late. Even five years out, there are strategies that can meaningfully improve your position. The important thing is to start.
What is a Transition to Retirement (TTR) strategy?
TTR lets you access some of your super as a pension once you've reached preservation age (currently 60), while still working. It's commonly used to boost super through salary sacrifice while drawing a TTR pension to maintain take-home pay. It's powerful for some people and pointless for others. We always model both outcomes before recommending it.
Should I consolidate my super into one fund?
In most cases yes. Multiple accounts mean multiple sets of fees and insurance premiums, which can cost thousands over a decade. Before rolling anything, we always check whether you'd lose valuable insurance cover or defined-benefit entitlements.
What is salary sacrifice into super?
Salary sacrifice means directing pre-tax salary into your super fund. Super contributions are taxed at 15% (rather than your marginal rate), so every $1,000 sacrificed saves you between $170 and $330 in tax today. The concessional contribution cap is $30,000 for 2025-26.
Can I access my super before I retire?
Generally no, except under limited conditions: reaching preservation age with a condition of release (retirement, or turning 65), severe financial hardship, compassionate grounds (medical, funeral), terminal medical condition, or the First Home Super Saver Scheme. Scams regularly try to convince people they can access super early through shady schemes. If someone offers you early access outside ATO-approved conditions, it's illegal.
Investment & Insurance
Should I start an SMSF?
SMSFs are powerful but not for everyone. As a rule of thumb, they become cost-competitive somewhere between $250,000 and $500,000. Below that, the fixed costs of accounting, audit, and ASIC fees eat too much of the returns. If you don't want to invest beyond what a retail/industry fund already offers, an SMSF probably isn't worth the admin. See SMSF Strategy for a deeper look.
How much investment do I need to start?
There's no minimum. We've worked with clients investing their first $50,000 and clients managing $5M+ portfolios. For small balances, we usually recommend a simple low-cost diversified ETF rather than a complex portfolio. The strategy should match the situation, not the other way around.
What are franking credits?
When Australian companies pay dividends out of already-taxed profits, they attach franking credits that you can use to offset your own tax. For investors on low marginal rates (especially retirees drawing a super pension at 0% tax), franking credits can be refunded as cash, which makes Australian shares particularly tax-efficient in retirement.
Do I need personal insurance?
If your household relies on your income, yes. The basics are life insurance, TPD, and income protection. Most Australians have default cover inside super that's nowhere near enough for their actual situation. We do a proper needs analysis rather than using rules of thumb. See Insurance Advice for a deeper look.
How much life insurance do I need?
Enough to clear your debts, cover your dependants' living costs for the years they'd need support, fund the kids' education, and ideally leave some capital for your partner's retirement. A starting point is 10 to 12 times annual income if you have young kids and a mortgage, but that's a rough guide, not a calculation.
Age Pension & Aged Care
When should we plan for aged care?
Ideally well before it's needed, because the decisions are time-sensitive and expensive to get wrong. The key planning areas are accommodation (RAD vs DAP), Centrelink means-testing, family home decisions, and the integration with the Age Pension. See Aged Care Planning for a deeper look.
Can I get the Age Pension if I own my home?
Yes. Your principal residence is exempt from the assets test, regardless of its value. However, homeowner thresholds are lower than non-homeowner thresholds. A homeowner couple can have around $470,000 in assessable assets (excluding the home) for a full pension, rising to about $1,075,000 for a part pension (March 2026 figures).
Does my super count towards the Age Pension assets test?
Yes. Once you reach Age Pension age (currently 67), all of your super counts as assessable, whether in accumulation or pension phase. Before Age Pension age, super in accumulation phase is generally exempt, which creates planning opportunities for couples with an age gap.
What is the deeming rate?
Deeming is how Centrelink estimates income from your financial assets. Rather than looking at actual returns, Centrelink assumes you earn a set rate. As at March 2026, the lower rate is 0.25% (on the first $62,600 for singles, $103,800 for couples) and the upper rate is 2.25% on the balance. These rates have been frozen since 2022; the freeze is scheduled to expire 30 June 2026.
How does the Work Bonus work?
The Work Bonus lets Age Pension recipients earn up to $300 per fortnight from employment without it affecting their pension under the income test. Unused amounts accumulate in an $11,800 bank. Investment income is not covered, only earned income from work.
Still have questions? We'd rather talk them through than type them out. It's free.
Great Advice Financial Advisers is a Corporate Authorised Representative of Akumin Financial Planning Pty Ltd, AFSL 232706. The information on this page is general in nature and does not take into account your individual objectives, financial situation, or needs. You should consider whether it's appropriate for your circumstances before acting on it, and seek personal financial advice from a licensed adviser.
