Earlybird Gets the Super Worm

Earlybird Gets the Super Worm

  Who regularly thinks about their superannuation and retirement? Well, that will probably depend on your age and where you are in your life phase. For individuals close to retirement, it’s front and centre and no doubt you will be taking active steps to increase the principal amount in your super account. If you’re in the middle of your life, say around the 40 – 50 age group, it’s more than likely in the back of your mind but your world is busy with work and older children wanting to be dropped here and picked up from there. And if you’re in your twenties or thirties, we bet it rarely crosses your mind at all. After all, isn’t super for ‘old people’ ???? But what if we told you that by allocating just a few hours of strategic thinking (and then doing!) every year to your superannuation you could increase your retirement savings by thousands? This is super important, especially if you’re a woman. On average, Australian women will retire with almost $100,000 less superannuation than men. But here’s the kicker – women live longer! This gap in retirement savings is not getting any smaller. And here’s another scary fact. 1 in 3 women will retire without any superannuation at all! So, here’s four simple tips on how getting in early and thinking strategically NOW can amp up your super for when you really need it. 1. Consolidate Do you have more than one super fund account? If you do, you are paying more fees than you need to. Allocate one hour to collate the info you need to...