Tagged With superannuation

0

When you first start out in the workforce, superannuation doesn't seem particularly important. It's something that only affects you at retirement age - which isn't something the average twenty-something likes to think about. Fortunately, preparing for this far-off future doesn't take much time or wherewithal - and the benefits can be significant.

Predicting the future is near impossible -- but that doesn‘t stop us all from having a red hot go. Human beings have been predicting the future since the beginning of history and the results range from the hilarious to the downright uncanny.

One thing all future predictions have in common: they‘re rooted in our current understanding of how the world works. It‘s difficult to escape that mindset. We have no idea how technology will evolve, so our ideas are connected to the technology of today.

12

I'm 21 and I want to open a superannuation fund that will give me the best benefits and security, rather than letting each of my employers start new super funds for me. What should I be looking for - no fees or more interest? Which company has the best superannuation scheme?

10

The Abbott government's deal with the Palmer United Party to freeze the minimum superannuation contribution rate at 9.5% until 2021 will not only cost retirees, it will also see future governments forced to bear the brunt of an increased reliance on the Age Pension. There has been considerable discussion of the impacts of the deal on both the wages of workers and their retirement savings. However, asserted effects have been either speculative (in the case of wages) or limited to a few hypothetical examples (in the case of retirement savings).

1

There's no shortage of advice for ways to retire comfortably, yet actually setting yourself up for it can be a different story. Believe it or not, building wealth to retire financially comfortable is actually simpler than we think. The challenge doesn't lie in the knowledge - but instead translating that knowledge into results that are meaningful.

6

Australians are increasingly relying on superannuation for their retirement income, but despite more than 20 years of compulsory super, many people are not retiring with enough.

35

"Why should a 20-something bother thinking about their retirement?" This was my mentality up to the age of 23. I wanted to live in the 'now' and being 60 was simply unfathomable. Anyway, what if I get hit by a bus next year? Then I would have been squirreling away extra money for nothing. My employer already makes contributions to my retirement, so that will be fine.

16

Some people have serious financial problems, but that's not you, right?. You've got a regular savings account, have cleaned up your high-interest debts, have all your super funds consolidated, and all-around are in pretty good financial shape. So where do you go from here? What's the next step for those of us who know the basics but want to make our money work harder?