Superannuation

Are you confident that you are on-track to fund a comfortable retirement? Many retirees are retiring with a yearly income of under $20,000, the majority of this coming from the Government.

As the new generation approaches retirement the Government will not be able to support us so it is up to us to fund our own retirement through superannuation.

At present employers are obligated to pay 9% superannuation, however, to retire comfortably we need to save more. The Government estimates reveal that by saving 12% of your pre-tax salary over your 40-year working life, you will provide yourself with a retirement income of approximately 40% of your pre-retirement salary. 

Have you recently changed jobs? Often when people change jobs they forget about their superannuation. As small as the amount may be it is in your best interests to amalgamate all superannuation funds into the one fund. This will allow your investment to grow to its full potential instead of being eaten up by unnecessary fees. 

We at BJ Love & Co can give you advice on where to invest your superannuation and how superannuation contributions can help minimise your tax bill and maximise your choices in retirement.

The sooner you start saving for retirement, the easier it is to ensure a financially secure future.

Click here to download 'Super Decisions - Understanding and making superannuation choices', published by the Australian Securities & Investments Commission.