How Your Super is Invested is a Huge Decision
Do you know what your super is invested in? How much do you have in growth assets like equities? What about in defensive investments such as cash and fixed interest? If your investment mix is not right for your strategy, timeframe and goals it could cost you plenty. For those under 40, it probably doesn’t make a lot of sense to put most of your super in cash.
Save a Little – Make a Lot
An easy way to save more! Have you ever had a pay rise and within a month or two you are wondering what happened to it because it’s all been spent? Next time you get a pay increase consider salary sacrificing some of it to super. By making sure you get more in the pocket as well as your super you’ll have some extra savings but also get to enjoy the payoff from your hard work. And the beauty of compounding returns will mean a little extra in super now will turn into a lot over the years.
You Need Protection
If you get sick or injured and can’t work – how would you survive without your income? Unfortunately it’s not just something that happens when you are older – it can happen in your 20’s or 30’s too. If cashflow is an issue your super may be the best place to hold a policy and make sure you have the cover you need.
Regular Review Will Keep You on Track
It’s easy to ignore your super statement each year thinking that it’s not that important. However one day your super will be the biggest or second biggest asset you own. Over time there will be many changes that affect your super such as your financial circumstances, your objectives or legislative change. By reviewing your super on a regular basis you can ensure you remain on track to achieve your goals.