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Superannuation

This is the second article in the 4-part series on superannuation through the generations. It covers super for the short and long term, options to increase the balance, how much might be needed to retire on in 30 years’ time and ways to achieve it, and insurance through super. If you are in your thirties, chances are life revolves around children and a mortgage. As much as we love our kids, the fact is they cost quite a lot. As for the mortgage, this is the age during which repayments are generally at their highest, relative to income. And on top...

This article is the first of a 4-part series on superannuation through the generations. It explains where super comes from, how it grows, how much might be needed to retire on in 40 years’ time and ways to achieve it. Are you getting any?   Earn more than $450 in any given month (excluding overtime, bonuses and some allowances)? Then every three months your employer should be paying 10% of that into your super fund. Usually you can choose your fund; if you don’t, it gets paid into a super fund of your employer’s choice. But that doesn’t mean you don’t get a...