.png?width=324)
Curious about how much superannuation you need for a comfortable retirement? Many sites will toss you the average super balance for people your age and call it a day. However, averages aren't always helpful, as outliers can skew the figures, and they fail to indicate if the 'average' Australian is truly saving enough for retirement.
.png?width=324)
Retail super funds give Aussies the chance to have their retirement savings managed by banks and large investment companies. But is this the right choice for you? Let’s explore what they offer and weigh up the pros and cons.
If you start a new job and don’t nominate a superannuation fund, there are regulations in place to ensure your money doesn’t end up in a high-fee account. Instead, it will be invested in an option within your employer's default fund that meets the government-endorsed MySuper standard.
.png?width=324)
When you select a super fund, you're essentially deciding which company or organisation will manage your money. However, each fund also offers you some degree of personal control through the investment options they offer.
Spreading your retirement savings across multiple super funds is a surefire way to increase your mental load and potentially raise your fees. If that’s your thing, more power to you. But for the rest of us, consolidating those superannuation accounts is probably the smarter move.
Ethical super funds have taken off as a way to align our values with our money: saving for retirement while saving the planet. But what is an ethical super fund? And how can you tell if it’s the real deal? Let’s find out!
.png?width=324)
Considering boosting your super? You're not alone. Salary sacrificing into your super is a smart move many Aussies are making to secure a better retirement. It's not just about stashing away more cash for the future; it's also about smart tax moves today.
.png?width=324)
Understanding superannuation contributions is crucial for optimising your retirement savings. And it's not just about relying on your employer's mandatory contributions.
.png?width=324)
Tax on super affects each stage of the super journey, from the initial contributions, through to the earnings phase, the final withdrawal of funds, and even after death. These tax implications are influenced by various factors like the type of contribution, age and income level.
.png?width=324)
You’re probably aware by now that you can get insurance through your super fund. It’s a convenient and often cost-effective way to ensure financial protection for you and your loved ones. But is it the right choice? Let’s look at the benefits and drawbacks to help you decide.
Though originally started for members of specific industries, industry super funds have since opened their doors to the public, becoming a favourite option for many Aussies.
.png?width=324)
Superannuation does more than just fund your retirement. It's also a handy financial tool that offers an array of benefits like tax advantages, growth opportunity and even cheap insurance cover. So what are the major superannuation benefits? Let’s find out!
.png?width=324)
Eager to access your superannuation but unsure about the timing?
Need to access your superannuation early but not sure if you qualify?
Found a super fund you like better? Making the switch is easy and you can do it all online! Here’s what to do…
.png?width=324)
We often hear questions about the distinction between lost and unclaimed superannuation. It's a common point of confusion for many managing their retirement savings, but it doesn't have to be.
Have you ever considered that a few minutes of checking could unlock thousands of dollars in potential investment earnings? Believe it or not, the ATO has unearthed over 7 million lost or unclaimed superannuation accounts, amassing more than $16 billion. That's an average of $2,276 per account, which could blossom into more than $20k over 30 years based on a 7.5% return*.
.png?width=324)
Super fees are a pesky reality of growing your retirement savings, but with a bit of know-how, you can keep them from nibbling away at your future wealth. This guide helps you navigate through these superannuation fees, shedding light on how to cut down on them effectively.
.png?width=324)
Have you ever spotted the term 'unique superannuation identifier' (USI) peeking out from your superannuation statements, or perhaps during the initial paperwork of a new job?
It pays to know where your nest egg is being invested, not only to get the most out of your super fund in retirement, but to make sure the selected investments meet your expectations.
.png?width=324)
Travel and relaxation are commonly associated with retirement, but getting there usually takes some financial planning.
When thinking about your retirement, one of the decisions that you will make for your superannuation is the choice between a managed fund, or a self-managed fund.
Are you just starting out in your career, or are you a seasoned expert within your field? Either way, you might be thinking about your super fund and what your employer obligations are for paying you super.
As the superannuation industry has focused on helping us watch our balances (hopefully) grow into enough to retire on, the government has realised it’s been overlooking the people the system is ultimately for: those who are already retired and need help navigating retirement and managing their hard-earned savings.
Read More.png?width=324)
A new report from Australian Seniors, titled Inheritance & Retirement Report 2024 , reveals that nearly a third of Aussies over 50 have decided to postpone their retirement due to the rising cost of living, facing the compounding pressures of funding their own retirement while also having enough left over to leave to their kids.This balancing act has led to some interesting developments in the way families are distributing inheritances. The report found that a whopping 69% of older Austrlaians have already given or plan to give their inheritance to their children or grandchildren before they themselves pass away.
Read More
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!
Read More.png?width=324)
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.
Read More