Yes it is true; we really love superannuation. We love superannuation because it provides Australians with choices and independence in retirement without having to rely solely on the government. We love super because it is a tax effective way to save for life-after-work. We live and breathe superannuation so that you don’t have to worry about it. For all of us of working age, superannuation is part of our lives; you can’t escape it. And before you know it retirement will be knocking and we want to make sure you have put the right superannuation strategies in place so you have the retirement you deserve. Ultimately we want your super to work harder for you.
There are plenty of myths and misconceptions out there about superannuation. We want to set the record straight for you.
Myth 1 – I have no control over my super.
Myth 2 – I can’t access my super until I retire.
Myth 3 – I don’t need to worry about my super until I am 50 or older.
If you want to retire comfortably your employer’s 9.5% contributions may not be enough to build your nest egg. Or if you are self-employed you need to be making the contributions yourself or you will be disappointed with your nest egg (or lack of) when you reach retirement. By being smart about your super, you will boost the amount of super you have when you stop working. The key is to start now so you can relax later.
Taking time out of the paid workforce to start a family can make it difficult to accumulate enough super for a comfortable retirement. But there are ways to avoid a superannuation shortfall, while you take time off to raise your kids – even with reduced or no pay.