A new survey from Mozo highlights a concerning trend: a staggering number of Australians are willing to dip into their superannuation early, and without even knowing how much is in there in the first place. Talk about long-term consequences for their retirement!
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ASIC’s Moneysmart recently convened a roundtable to work out why younger generations are feeling in the dark about their superannuation. Hint: funds just aren’t speaking the same language. And their comms skills? Mid at best.
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The ART High Growth option from Australian Retirement Trust (ART) is the highest-performing investment option over the last 10 years to 31 May 2024, according to the SuperRatings SR50 Growth Index .
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Did you know that from 1 July 2024, the superannuation guarantee rate increased from 11% to 11.50%?
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The AFR recently ran an article titled, "'It’s my money' attitude leading to illegal super withdrawals," followed by the subtitle, "Early release of super is only supposed to be allowed as a last resort. So why are so many people being approved to use it for dental work?"
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In its recent report on harmful advice charges, the Australian Securities and Investments Commission (ASIC) recently revealed that a staggering $990 million in advice fees were charged across 476,000 superannuation accounts.*
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Designing a comfortable retirement relies on various factors, including anticipating future needs, making adequate savings, and choosing the right super fund. Ultimately, you seek a fund that aligns with your investment values and offers good net returns after fees are factored in.
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April has thrown a curveball at super funds, marking their first negative monthly return since October 2023. SuperRatings, a leading superannuation research organisation, reports that the median balanced option fell by -1.6% in April.
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Are you between 45 and 55? If so, retirement isn't just a distant dream anymore—it's approaching fast. Now's the perfect time to take a hard look at your superannuation and ask yourself if it's really on track to give you the retirement you want.
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Super funds have been on a positive trajectory, with March marking yet another month of strong performance.
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