IN YOUR 50S

EX­PERT TIP Anne Fuchs, Sun­su­per

Money Magazine Australia - - INVESTING -

1 Com­bine your ac­counts. It can make sense to com­bine all your su­per ac­counts into one – fewer fees, less pa­per­work, one larger bal­ance. Many su­per funds of­fer on­line ser­vices to help you find and con­sol­i­date your var­i­ous ac­counts. 2 Choose the right in­vest­ments. The in­vest­ment op­tion you choose can make a big dif­fer­ence to your to­tal bal­ance at re­tire­ment. If you don’t make a choice, most funds will in­vest your su­per in a bal­anced mix of as­sets. 3

Add to your su­per. There are a num­ber of ways to add to your su­per on top of the com­pul­sory con­tri­bu­tions from your em­ployer. Some may even save you some tax now or get you an added con­tri­bu­tion from the gov­ern­ment. Talk to your su­per fund or em­ployer’s pay­roll de­part­ment about the op­tions. 4

Look af­ter your loved ones. Insurance through su­per can be a cost-ef­fec­tive and sim­ple way to give you and your de­pen­dants peace of mind should you die or be un­able to work due to ill­ness or in­jury. 5 Get some ad­vice. Ex­pert fi­nan­cial guid­ance can help you pic­ture your dream re­tire­ment and put in place the right strate­gies to achieve it. Most funds of­fer ad­vice to their mem­bers over the phone or in per­son, of­ten at no ad­di­tional cost.

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