IN YOUR 50S
EXPERT TIP Anne Fuchs, Sunsuper
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.