Then you likely have a default super fund.
Many super funds make it easy for employers to set up standard, default investments for their employees. It’s a great and efficient system for them, but because it’s set up for any and everyone, it’s likely not the best investment for you.
Do you know how that money was invested? Do you know what you’re on track for at retirement?
This is the harsh reality that many Aussies face. But that default setup is likely to come with low returns.
You are unlikely to know how you’re projected, you could be getting low returns – so now what do you do?
The sooner you look into this the bigger of a difference it will make for you and your future. The alternative is to ignore it and let this “hope and pray” strategy continue. But we don’t want you to do that because it isn’t a good plan for you, your family, or your retirement.
That’s why we offer a free review to help you lift the hood on your Super.
Here’s an example
The average balance for those aged 60 to 64 is a reasonable proxy for average retirement payouts given that most individuals retire at or around their early 60s. Average superannuation balances at the time of retirement (assumed to be age 60 to 64) in 2015-16 were $270,710 for men and $157,050 for women.
But here’s what matters for you – by taking more control of your superannuation you could improve your retirement balance substantially.
By simply having a superannuation balance of $100k at a 6% annual return over a 20-year working time frame you would have a retirement balance of $320,000.
Taking the same situation but at a 10% return, your expected retirement balance would be $672,000. That means you would have an extra $352,000 in retirement.
Taking a more pro-active investment style with assistance from a qualified adviser can make all the difference.
Get your setup reviewed by an expert
We offer a free, expert review. But perhaps more importantly, we care about your Super. We aren’t looking to find “an efficient and easy setup.” We are looking to find the best way to invest your Super that helps you achieve your retirement goals, and beyond!
The call is free. Seriously. We exist to help every Aussie with their Super. Let us help you too.