Superannuation is a long-term savings plan designed to support you in retirement.
The ‘trick’ with superannuation is that you generally can’t access your money until you are at least 55.
This means it keeps growing over the years for you to enjoy later. But it has limitations if you want more from your savings plan.
How does it work?
Your superannuation fund receives your superannuation contributions from your employer. You can also make voluntary contributions from your pay to increase your final payment. In some cases, there are tax advantages for doing this, however doing so depends on your situation and your goals.
The money in your superannuation fund is invested in the hope that it will grow, and in most funds you can have a say over how your money will be invested. For example, you may be able to choose to have your funds invested in shares, property, cash or fixed interest – or a mix of these. But returns can vary, do you understand what is the best investment for you considering your goals and time of life?
We can help you better understand super and select a superannuation fund and investment options right for you, given your situation and goals, so you can achieve success in retirement.
Why is it important?
It’s about saving for your future. As our life expectancy increases, many of us might have to fund a 30 plus year retirement. While there may be some type of age pension, it probably won’t be enough to fund what you want from life. Many of us will need far more money than those before us to live a comfortable retirement.
The best part of superannuation is that if invested correctly it grows, and grows.
How much you have in superannuation will depend on the wise choices you make today.
We are here to help
We make it easy for you to get started with a plan to secure your financial future. We also help to monitor your progress monthly, which helps motivate you and keep you on track for success.