IN YOUR 60S
EXPERT TIP Jack McCartney, UniSuper
1 Consolidate your super. If you’ve had more than one job, it’s likely you have more than one super account. Yet having two, three or maybe even more could be costing you in extra fees each year. As you approach retirement it’s important to consolidate your accounts. 2
Make extra contributions. In the lead-up to retirement many people consider making extra contributions to increase their nest egg. You can make these contributions both before and after tax but be aware of the various annual limits on each of these types of contributions. 3
Have you chosen an investment strategy? Choosing the right one for your age and tolerance for risk can be an important factor impacting on your balance. 4 Have you got a financial plan in place? You’re likely to need a regular income for at least 20 years once you retire. It’s important you structure your assets to maximise any entitlements you have and to ensure your money will last. A qualified financial adviser can assist you with this. 5 Realise that super is complex. It’s important to understand the opportunities and possibilities. At UniSuper, we offer our members free education seminars and webinars to arm them with the facts needed to build retirement savings with confidence.