YOUR WAY

Are you worried about your super and how it will affect your life to come? REST Industry Super has some great advice to help you plan the future.

Is it time to be thinking about my retirement?

There’s never a bad time to plan for your future, but if you’re looking at your super balance and feeling nervous, there are steps you can take.

TOP TIPS ON HOW TO MAKE YOUR SUPER LAST

1 Consider a transition-to-retirement strategy If you’re still working, a TTR strategy can help you ease into retirement by using some of your super as an income stream, which can also have tax benefits.

2 Rethink investment choices Whether you’re planning for or already in retirement, make sure your investments match your financial goals, personal timeframes and appetite for risk.

3 Maximise Centrelink entitlements The benefits you’re entitled to will affect how much super you need to draw on to supplement your income, so do the research.

4 Prepare your budget Having a plan is the best way to ensure you’re getting the most from your situation and remaining in control of your financial future.

5 Keep an eye on changes The federal government recently passed significant changes to superannuation. Find out how they affect you.