Superannuation in your thirties

Jeep lobs budget-minded Gladiator Sport S

If you are in your thirties, chances are life revolves around children and a mortgage. As much as we love our kids, the fact is they cost quite a lot.

As for the mortgage, this is the age during which repayments are generally at their highest, relative to income.

And on top of that, one parent is often not working, or working only part time.

Even if children are not a factor, career building is paramount during this decade.

Do not be alarmed, but by the time a 35-yearold couple today reaches retirement age in 32 years’ time, the effects of inflation could mean they will need an income of about $150,000 a year to enjoy a ‘comfortable’ retirement.

To support that level of income for up to 30 years in retirement, they will want to have built a combined nest egg of about $2.7-million.

If you are on a 30 percent or higher marginal tax rate, willing to stash some cash for the long term, and would like to reduce your tax bill, then consider making salary sacrifice – pre-tax – contributions to super.

For most people super contributions and earnings are taxed at 15 percent, so savings will grow faster in super than outside it.

Even if you can not make additional contributions right now there is one thing you can do to help achieve a comfortable retirement – ensure your super is invested in an appropriate portfolio.

With decades to go until retirement, a portfolio with a higher proportion of shares, property and other growth assets is likely to out-perform one that is dominated by cash and fixed interest investments.

But be mindful: the higher the return, the higher the associated risk.

For any young family, financial protection is crucial.

The loss of or disablement of either parent would be disastrous. In most cases both parents should be covered by life and disability insurance.

If this insurance is taken out through your superannuation fund the premiums are paid out of your accumulated super balance.

While this means that your ultimate retirement benefit will be a bit less than if you took out insurance directly, it doesn’t impact on the current family budget.

However, do not just accept the amount of cover that many funds automatically provide. It might not be adequate for your needs.

Whether it is super, insurance, establishing investments or building your career, there is a lot to think about when you are 30-something.

It is an ideal age to start some serious financial planning, so talk to a licensed financial adviser about putting a plan into place. • The information provided in this article is general in nature only and does not constitute personal financial advice.

Jeep Australia has bolstered its Gladiator line-up with the arrival of the entry-level Sport S, which will check into showrooms priced from $65,450 plus on-road costs later this month, offering consumers a more budget-focused entry into the Gladiator range.

Given it is priced some $10,000 below the Overland, it should hardly be surprising to find the Sport S is the most sparsely equipped variant in the range, however it still comes with all of the familiar Gladiator off-road hardware needed for touring.

Compared with its pricier stablemates, the Sport S can be singled out by its black wheelarches, black roof panels and silver 17-inch aluminium wheels.

Under the bonnet resides the same 3.6-litre ‘Pentastar’ V6 petrol engine as the rest of the range, still producing 209kw-347nm and still hooked up to the same Zf-sourced eight-speed automatic transmission.

Just like the Overland, the Selectrac on-demand 4x4 system comes as standard on the Sport S, as do the heavy-duty Dana front and rear axles, underbody skid plates and heavy-duty rock rails.

Other off-road friendly features shared with the higher grades include selectable tyre fill alert and a wash-out interior.

Standard creature comforts within the cabin consist of keyless entry and push-button start, fourth-generation Uconnect 7.0-inch infotainment touchscreen with Apple Carplay and Android Auto, nine-speaker Alpine sound system, a 7.0-inch driver information display cluster and dual-zone climate control.

Front and rear exterior lighting – headlights, foglights, daytime running lights and tail-lights – are all LED.

Safety gear includes forward collision warning plus, adaptive cruise control, blind-spot monitoring, reversing camera, front and rear parking sensors and rear cross-path detection.

Those hoping for more gear on their Sport S without stepping up to the Overland will need to opt for the $2450 ‘comfort and technology group’ pack, which adds a bigger 8.4inch infotainment touchscreen featuring satellite navigation as well as the aforementioned smartphone mirroring, deep tint sunscreen windows, remote start system, security alarm and a hard-top headliner.

Adventure-minded customers who want to up the ruggedness of their vehicles can option the $2950 ‘lifestyle adventure group’, which adds a rollup tonneau cover, cargo management group with trail rail system, lockable rear underseat storage bin, spray-in bedliner, Bluetooth wireless speaker, auxiliary switch bank, 240-amp alternator and a 700-amp maintenance-free battery.

Jeep Australia brand and product strategy director Guillaume Drelon said the Gladiator S did not compromise on safety, technology or off-road ability despite being the base model.

“Since its arrival in Australia, the Gladiator has been turning heads on our roads and by expanding the range to include the Sport S specification, even more Australians will be able to own the only open-air truck,” he said.

Jeep Australia shifted 71 new Gladiators last month, accounting for a slim 0.5 percent of the 4x4 ute segment, however brand executives have previously stated the Gladiator was never intended to be a volume-seller.