Your superannuation is an extremely important investment because it is likely to be your main source of income in retirement. Also, it is the most tax-effective way to save for retirement so it pays to look after it.

A basic retirement versus a great retirement

Would you like to enjoy your retirement without worrying about money? Of course you would but unfortunately most people have a huge shortfall in their retirement savings.

In 2015/16 the average Australian’s superannuation balance at retirement was just $270,710 for men and $157,050 for women – not much considering a comfortable retirement can cost $43,601 for a single person and $61,522 pa for a couple.

Your employer’s compulsory 9.5% superannuation guarantee contributions are unlikely to give you a comfortable retirement. But, if you start contributing more to your super now you can make more of your retirement later.

Super tax advantage

Superannuation is one of the most tax-effective way to save for your future. Your contributions are taxed at only 15% which is much lower than most peoples’ marginal tax rates.

How a Collaborative Wealth Partners financial planner can help you

A financial planner can help you:

  • choose an appropriate super fund with the features you need
  • select the appropriate investment mix depending on your risk profile and investment timeframe
  • boost your super by making the most of the contributions limits, tax-benefits and government incentives
  • transition your super to a pension once you retire.

Get in touch with a Collaborative Wealth Partners financial planner

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