There is so much information ‘out there’ to choose from when it comes to superannuation, but where to start? With SuperSavvy, we provide easy to understand, unbiased information that helps you to get started. After all, it’s important that you make the right decisions early in your working life, to ensure that your super money is working as hard as it can, as long as it can for you. This will help to make sure that you save as much money and earn as much interest as possible over your working life.
How to choose a fund
There is so much information available it can be daunting. Do your research. Find a fund that offers the investment, insurance and advice options best for you. Be aware of what you’re paying for.
Your investment options
Most superannuation products offer you a number of investment options. Your age, and your tolerance for risk will help determine what is best for you. Create a more secure financial future that gives you the freedom you want and deserve.
How funds perform will determine the return you get on your investments. Learn and understand what impacts your superannuation and what you can expect from your fund.
Not all super funds are the same, and the fees payable can be vastly different. Make sure you understand the impact fees will have on your investment.
Your insurance options
Using the insurance options available in your super is a good way to make sure you have affordable and adequate cover.
Many funds offer additional member benefits as part of their service offering. Determine if this is important to you and what to look out for.
What is investment risk?
When it comes to investments, there are no guarantees. The chance of positive or negative returns will differ based on the type of investments you choose. Understand and be comfortable with the level of risk you accept.
What are asset classes?
Your super assets can be invested across different types of investments, and what's appropriate for you, will depend on how much risk you’re happy to accept. Asset classes are either defensive or growth and each asset class can hold a mix of Shares, Property, Cash and Fixed Interest investments.
Tax and Super
There are different tax benefits as well as taxes payable on your superannuation. Make sure you’re aware of these – they can have big implications for you and your investment.