How to Boost Your Super Fund’s Performance

Many people think superannuation is a long-term thing. Who thinks about their super fund performance on a regular basis? Those payments from your wage that get popped straight into a superannuation account you barely think about and that you hope will give you the funds you need in retirement….whenever that may be. As it’s approaching the end of financial year (one of our favorite times of year here at Blenkhorn and we’re not joking!) we want to share some ideas with you on how to keep your superannuation front of mind. You’re working so why shouldn’t your super also get working? The end of the financial year is a great time to take stock of your financial situation and make some smart decisions about your future. Here are some super Super strategies to get you started: 1. Salary sacrifice With salary sacrifice, you can put some of your before-tax income into your super. These contributions are classified as concessional contribution and are generally taxed at 15% for most people – which may be less than your current marginal tax rate. Salary sacrifice depends on your personal circumstances and you need to be careful you don’t breach any caps on contributions and conditions. Call a Blenkhorn financial planner to be sure. 2. Protect your family Under-insuring is a major issue in Australia and while we don’t ever want to face the possibility of passing away, getting very ill or becoming disabled, the fact is it can happen. If cash flow is preventing you from taking out life insurance you may want to consider life insurance cover through your Super. This...