Superannuation (super) is a tax effective way of saving money for your retirement. For many Australians, super will be their main form of retirement income.
During your working life, your employer makes contributions to a fund of your choice and the earnings you receive are reinvested, building up in value over time.
Additional contributions can also be made by you, your spouse, your employer and in some cases the government. A key feature of superannuation is that tax concessions are provided by the government at various stages.
Generally, your superannuation benefits must remain in super until you satisfy a condition of release such as reaching age 65.
To find out more please talk to your financial planner.
For most of us, our super is likely to be the principal means by which we fund our retirement years. Our accumulated super will probably be the biggest financial asset we ever own, apart perhaps from the family home.
And what’s ironic about super is that with the right help at the right time, sorting out your super and getting it on track to give you the best retirement lifestyle possible isn’t so difficult.
A Fiducian financial planner will know the superannuation system inside out. They’ll thoroughly asses where you currently stand, and lay out an actionable road map to get you where you want to go. They’ll make the complex simple, cut out the irrelevant stuff and not blind you with jargon.
As part of the process of working with you on your super strategy, and depending on where you are in life, your financial planner might guide you through some of the following: