What’s A Good Superannuation Strategy For Me?

(With links to superannuation strategy how-to guides from Money Magazine and CANSTAR)

Whether you’re in your 20’s now, or almost ready to retire: A good superannuation strategy can make the difference between a comfortable retirement and a financial struggle.

The Government continues to make changes to how you receive the aged pension in retirement, therefore, the amount of superannuation you save has never been more important. Latch onto a good superannuation strategy right now and it could pay off big when you retire. (Want to retire early? Don’t just dream about it – get to work on it!)

Not sure where to start?

Have a look at a the superannuation strategy ideas from Money Magazine and from Effie Zahos at CANSTAR. Just click an image below that matches your age. MoneyMag has some great starter ideas about how you can make the most out of your superannuation, and CANSTAR has clear info on how a little bit of money now can change things for you later.

Superannuation Resources from Etax

At Etax Accountants our clients frequently ask about superannuation. Based on your questions, we’ve put together a series of posts on superannuation…

1. Find your lost super: Tens of thousands of Australians have more than one super account. Sometimes that’s for a good reason, however, sometimes it could be a mistake that means extra fees will eat into your savings. Multiple accounts can also add complexity to your finances and, in some cases, lead to lost or forgotten super savings. This article explains how to find your lost super and more.
2. How does Superannuation Work? Similar to the Money Magazine videos, these tips will help you develop your own superannuation strategy.
3. How much super do you need to retire: You’ve put together your superannuation strategy, but do you know how much super you’ll actually need for retirement?
4. What you need to know about super: This article outlines the basics about the compulsory superannuation payments made by your employer.  We also cover voluntary superannuation payments you can make to help boost your superannuation.
5. Superannuation Co-contribution: For low income earners the super co-contribution scheme is a great strategy to help grow your superannuation. We also explain why the Government contributes up to $500 per year for those who qualify. (Free money from the Government seems like a good idea!)
6. Superannuation Contribution Limits: Details about how much super you can contribute each year without getting hit by higher tax rates.

Disclaimer:

This article contains general, informal information which is not intended to be detailed advice for managing your finances. For detailed advice about financial and retirement planning you should speak with a licensed financial planner or superannuation advisor. Etax Accountants is not connected with Money Magazine or CANSTAR, but we think they have some good content that can help people learn more about managing money. Etax won CANSTAR’s award for the top-rated tax agents in 2018 and 2020, but we have no connection with CANSTAR.