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When you choose to add your own money to your super fund, these are known as voluntary contributions. Over time these voluntary contributions can make a significant difference to your final super balance. Salary Sacrifice: This is when you make contributions from your gross salary. That is, contributions taken out of your salary before tax. The advantage is these amounts are taxed at a lower rate of 15%. The other advantage is they can be Read more…

Inflation eats away at your retirement money every single day, of every week, of every year! Therefore, it’s important to invest your money to offset the reduction of your spending power by inflation. What is inflation? Inflation is the rate at which prices for goods and services rise over time. In other words, inflation reduces the purchasing power of your money. The $100 you have today, won’t buy you the same amount in ten years’ Read more…

When it comes to choosing the right superannuation fund for you, it’s important to understand your risk appetite. Do you want a low-risk investment option, or are you willing to take on more risk for the potential of higher returns? Generally speaking, there are three main risk levels when it comes to superannuation funds: low risk, medium risk and high risk. Low risk investments tend to be more stable, with less chance of losing your Read more…

If you’re an employee working in Australia, your employer is generally required to make super contributions on your behalf. This is called the Superannuation Guarantee (SG). These employer super contributions are a percentage of your before-tax salary and are paid into your super fund. The contributions are in addition to any salary or wages you earn and are designed to help you save for your retirement. They are also in addition to any personal contributions Read more…

If you’re like most people, you probably don’t think much about retirement until you’re nearing the end of your working life. But whether you’re years or months away from retirement, it’s never too early to start thinking about how you’ll support yourself during those golden years. One of the best ways to ensure a comfortable retirement is to plan ahead and set aside as much money as possible. But how much is enough? The industry Read more…

There are various types of superannuation funds in Australia. As each type of fund has its own benefits and drawbacks, it’s important to do your research before deciding which one is right for you. The five main types of superannuation funds in Australia are industry funds, retail funds, corporate funds, public sector funds and Self Managed Super Funds. 1. Industry funds Industry funds are sector specific, and are usually set up by employers in a Read more…