Superannuation is important … because it’s your money for your retirement
When you start off in the workforce, you might not have much in your superannuation fund. And your retirement may seem like it’s a long way off. So it’s easy to forget about your super savings.
But things change. As your employer and personal contributions add up over the course of your working life, your super could grow to become your largest single investment after the family home.
Super’s low-tax framework is designed to help build up your nest egg so you don’t have to rely on the basic Age Pension to make ends meet in retirement.
After a lifetime of hard work, many people don’t want to be scrimping and saving in retirement. They want to maintain a decent standard of living, with enough money to spend time with family and friends, enjoy a range of leisure activities and reward themselves with a few overseas trips.
The Age Pension may not provide you with the retirement lifestyle you are seeking.
So taking a few simple steps now can put you in control and on the path to enjoying the retirement lifestyle you want.
Getting your Super sorted
Yes…retirement may seem like a long way off, it could be just around the corner, but putting money into super now is still a tax effective way to invest your money. That’s because some types of contributions you make, and the investment earnings on those contributions, are taxed at concessional rates.
Not only is super a tax effective way of saving and investing, but you can benefit from the effects of compounding returns.
