Folks, a mini superannuation case study question.
I set up my SMSF 3 years ago and used the bring forward rule to drop in $540k before they lowered the limit.
As of 30/6/19, the balance was $1.397m. As of today, it's $1.51m. The bring forward has expired and I can contribute non-concessionals again.
As my last balance was less than $1.4m, I can contribute the full 3 years again. Unless we have a major correction, this financial year is my last chance to get significant extra money in to super - I could deposit $300k non-concessional and $25k concessional and my balance would leap up to well over $1.8m.
The problem ? First world problem, of course, but that would deplete most of my available cash. I like having extra money around, one day I'm going to realise I'm not getting any younger and may blow some money on a boat or a plane or help the kids out with a property. I have a million in equities in my taxable accounts which will generate enough dividends to live off for the next 6 years until I'm 60 and I want to keep that intact. I can take an advance on my inheritance of $250k if I want (which I don't), so I don't really have anything to worry about there either.
My question: I don't really want to run too close to the wire, even with safety nets. I haven't crunched the numbers, but my gut feel is that once you cross the $1.6m balance cap, then putting extra into super becomes marginal. Maybe I don't bother contributing the full $300k, maybe $150k or $200k.
Anyone have thoughts as to whether I should take advantage of this once-in-lifetime opprtunity ?