Money magazine Comments - Ask Paul: I have $500k in super, should I give $200k to my kids? Bernadette wants to give $200,000 to her children, but with $500,000 in super and no other assets, is this a wise move? https://www.moneymag.com.au/feed/latest?story=179779752 Wed, 01 Sep 2021 19:05:43 +1000 Wed, 01 Sep 2021 19:05:43 +1000 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - Ask Paul: I have $500k in super, should I give $200k to my kids? https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by Entin Nemeyer ()

So when a person have $500,000 still can receive government pension ??

Please explain

Thanks

Entin

Reply to article

For original story, Click Here.

]]> Entin Nemeyer () Wed, 01 Sep 2021 19:05:43 +1000 Comment by Nicole N ()

She mentions that she lives with her daughter and has no other assets (ie she doesn't own her own home). This is how she qualifies for the pension, I would imagine.

Reply to article

For original story, Click Here.

]]> Nicole N () Fri, 03 Sep 2021 16:15:59 +1000 Comment by Robin PANKIW ()

Beware! Generosity like this can backfire badly - especially if you do not fully own the roof over your head. What if your daughter's circumstances change e.g. separation, divorce, illness, death, financial disaster? Play the "Devil's Advocate". Look at all the "what ifs". Definitely, check with Centrelink and your tax accountant. Gifting to your relatives could leave you homeless and unable to get the pension (for some time at least). Thinking that your generosity will guarantee reciprocal generosity or guaranteed care in later years may not - with the best will in the world - come to fruition. Talk to an estate planner/solicitor about your best options - and make a will. Good luck.

Reply to article

For original story, Click Here.

]]> Robin PANKIW () Fri, 03 Sep 2021 18:34:08 +1000