Investing in your future

Investing in your future.

The government regularly reminds us that each Australian must take responsibility for funding their future. Regardless of when you will be able to access your super, or when you choose to stop working, you need to be aware of how your superannuation is being managed and if the final balance will be sufficient when you’re ready to retire… and for the years beyond.

As a super fund member it is your responsibility to manage your contributions (over and above your employer’s contributions), regardless of whether they are being invested into a retail fund, industry fund or your own self-managed fund.

Superannuation is a tax structure but it should be treated like a valuable financial asset. The fundamental principles of financial planning prescribe that individual tailoring, based on your needs, objectives and personal circumstances, is paramount to ensuring you have enough money to enjoy your later years.

It’s a recipe for disaster to think that once you have established a superannuation account and your employer’s contributions are flowing in, you can forget about it for the rest of your working life. Financial markets will change, your own financial position will change, and your objectives and plans may change, so it’s crucial that you review your super regularly.

Additionally, it’s foolish to believe that a “one size fits all” approach with no personal advice on contribution levels or transfer issues will help you achieve your goals.

The amount of money in your super fund when you want to access it will determine what type of retirement you will enjoy. So, it is you, nobody else, who must take responsibility for determining what your needs are and work towards meeting them. That could mean making increased contributions after a certain age to bolster your savings or deciding who your beneficiaries will be if you don’t make it that far.

These are critical issues that you should take the time to discuss with us. Superannuation is your investment in your future… individual advice and tailoring is essential.

For super advice and assistance, please email [email protected] to make an appointment!