Do you know how much you have in Super?
Do you know what expenses you are paying or the investment returns being generated?
Do you know how much you are contributing into Super each year?
At A&T Financial Advisers we can provide a Superannuation health check to help you answer the above questions and to ensure that your Super is appropriate to your current situation.
Superannuation assets across Australia totalled $2.6 trillion as the end of the March 2018 according to the Association of Superannuation Funds and will likely become one of the biggest assets you will own.
If you are employed your employer is mandated by law to pay 9.5% of your salary into superannuation, in most instances you have the ability to choose what super fund this is paid into whether it be an industry fund, retail fund or a self-managed superannuation fund often referred to as a SMSF.
Money in your super is invested by your super fund and depending on the fund you are with offer a variety of investment options. These usually include pre-mixed options that will contain a mix of different asset classes, and a single sector options such as cash, property and shares.
Your investment returns will impact how quickly your super grows so it's important to choose an investment option that is appropriate for your investment timeframe and tolerance for market fluctuations.
If you have had more then one job and haven't reviewed your superannuation chances are you might have more than one super fund. Consolidating these funds might save on annual expenses, however any existing insurances need to be carefully considered before closing the account.
Industry, Retail and SMSF Funds
Superannuation health checks on performance and fees
Consolidation of superannuation accounts
Contact us to discuss your superannuation