Ways to kick start your superannuation this MoneySmart Week #SortYourSuper
With the cost of fees attached to several super accounts eroding final retirement savings by tens of thousands of dollars and only 5% of Aussies confident they will have more than enough savings for retirement according to the latest MLC Wealth Sentiment Survey, MoneySmart Week is the perfect time to ramp up your super savings.
NAB general manager Paul Fog said you can make a difference in just one week by focusing on getting the basics right. “The most important thing to remember is that planning ahead, and setting aside even a small amount extra on a regular basis, can make a big difference to your retirement down the track."
Here are NAB’s top tips for kick starting your super in just one week:
1. Consider consolidating your super
Many people have multiple super funds for each job they’ve held. Consolidating your super savings into one fund which meets your goals and objectives can sometimes result in you paying lower fees and may make it easier to keep track of your assets.
2. Track down lost super
Australians often lose track of superannuation when they change jobs. Using the ATO's SuperSeeker website to search for any unclaimed super is an easy way to track down savings that are rightfully yours.
3. Set a plan to start actively saving for retirement
Setting a plan to start putting away even a small amount of money regularly can make all the difference at retirement time.