Everyone’s idea of how much money they’ll need in retirement is different. As super is a long term investment where all earnings are reinvested and any returns compounded, the earlier you begin making contributions, the more effective your super will become in retirement.
You can also grow your super by making one-off contributions from your after-tax income. The Federal Government also offers incentives and financial assistance to help you grow your super e.g. Government Co-Contributions and Spouse Contributions.
Salary sacrifice involves drip feeding regular amounts into your super from your gross earnings (your pre-tax income). Salary sacrificing can make a surprising difference over time. There are limits on the amount you can salary sacrifice each year depending on your age and it’s important to remember that your employers’ contributions count towards your pre-tax contribution limit. We can provide advice on a salary sacrifice strategy for you taking into consideration tax implications and current superannuation laws.
We can provide you with advice on the most appropriate super platform and level of super contributions for you. We can review your current superannuation in relation to your goals and individual circumstances as well as the insurances held inside the super fund.
Once we have an understanding of this, we can advise you on appropriate strategies to help you achieve your financial goals.
Make an obligation-free appointment today with one of our financial advisers to discuss ways you can boost your Superannuation.