By Tamia Gallego
You might not realise this but most people would have more money in Super than anywhere else. To ensure you’re receiving maximum returns, you need to plan early, implement effective investing strategies and check constantly on the performance of your fund. Super needs to be treated like an investment you actually care about.
An annual Super health check will ensure you stay on top of your retirement plans. The statements can be unexciting to read, but make sure your employer is fufulling the superannuation guarantee (that is 9.25 per cent contribution) by matching the statements against your pay slips. Understand the fees and check the performance of the fund.
Research has shown that 9.25 per cent super guarantee is not enough for retirement. Apparently you need to be putting away 15 per cent of your wage over your working life to get something reasonable. So it’s worthwhile considering a salary sacrifice arrangement. You just don’t know when your circumstance may change so put away as much as you can as soon as you can.
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