Super for 40s and 50s

The interesting thing about superannuation is that the sooner you start contributing to your fund, the better off you are likely to be in the long term. In reality, many people don't give it much thought in their 20’s and for some, even their 30’s. Retirement seems like such a long way off, it’s just something that many put off and don’t consider.

For many, their 40’s and 50’s are when retirement planning starts to become more important. The thing to remember is that whilst it is never too late to start thinking about superannuation, the sooner you do, the better.

9.5% Superannuation Guarantee from July 1 2016
Find out more about the contribution your employer is legally obliged to pay into a super plan on your behalf … but not everyone is eligible. Make sure you know if you’re entitled or not.

After-tax contributions
Whilst the government is increasing the amount of compulsory superannuation, you will need to consider if this will be enough for you to comfortably retire on.

Before-tax contributions
There are special incentives available when you make contributions to your super from your pre-tax salary. This can be lucrative so you should understand your options.

Contribution splitting
This is a good way to boost the superannuation savings of a partner with a low account balance or lower income. You don’t have to be married to benefit from this opportunity.

Nominating beneficiaries
Have a say in how your money is divided in the event of your death. Make sure it goes to who you want it to.

Changing jobs
Just because you change jobs, doesn’t mean you have to change superannuation funds. Check with your employer if you’re eligible to retain your current provider.

If you have more than one superannuation fund, chances are you’re paying too much in fees. Look at ways to easily bring your super together to make keeping track of it easier.

Keeping track of your super
The average Australian has approximately 3 superannuation funds, so keeping track of them all can be a chore. Consider some of these hints and tips to simplify your super.

Rapid consolidation
The government have initiated the consolidation of some multiple accounts automatically, but you will need to consider if this is right for you. Understand your options before these changes are implemented 1 January 2014.

What is a Self Managed Super Fund (SMSF)?
Also known as an SMSF, this sector is the fastest growing in the superannuation landscape…but it’s not for everyone. Make an informed decision about whether this is the right strategy for you.

SMSF Myths
Don’t believe everything you hear… there have been some changes to SMSFs and how you can and can’t invest your money.

SMSF Questions & Answers
SMSF’s have been around a long time, but there is lots you need to know before you dive headfirst into managing your own superannuation nest egg. Here are a number of questions and answers designed to help you.

Your SMSF checklist
A step-by-step guide to what you need to know and do before you open a SMSF fund.