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.
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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 July already! For many July means tax time, a chilly month or two before we head towards summer, and this year it means it’s almost time for the Tokyo Olympics!
There will be many athletes aiming for personal bests and gold medal glory. But it’s not only athletes striving for their best outcomes.
For the first time ever in Australia, the mandatory super contribution by employers has reached 10 percent, up from 9.5 percent.
Over the past few years, more rules and systems have been implemented to make it easier for Australians to switch to a Super fund that suits them.
Are you considering how to find a better Super fund for you? Thinking about a move but don’t know where to start? Maybe you have a few potential Super funds in mind, or none.
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.
Choosing another Super fund that suits you better can feel so overwhelming that perhaps you keep putting off the decision to research different funds.
