There’s big news when it comes to your super. The law is changing on the super guarantee – the contribution your employer is required to make into a super fund on your behalf. On July 1st 2022, the mandatory amount of your pre-tax income that goes into your super will increase from 10% to 10.5%. Here’s how that could help you in the long-term.
Markets rise and markets fall. This is the nature of regular market cycles. Sometimes when markets have a period of sharp falls in the short term, people forget about the long-term picture and get tunnel vision, focussing only on the short-term negativity. Read Post
Your super balance often forms a significant part of growing your long-term savings for retirement. It may surprise you to know there are currently government schemes available to support you in getting the most out of your super, including the co-contribution program.
It’s a question with no exact answer. But it is an important question nonetheless, and one you should consider asking yourself from time to time. Just like everyone has different savings and investment habits, everyone has a different lifestyle, meaning the estimate of the amount needed for a comfortable retirement will vary according to the expected lifestyle of the individual or couple.