My Super News
Pay yourself forward
Having a great fund goes a long way towards securing your savings, but you can also add more financial stability by making voluntary contributions to your super. If you are able to redirect some of your disposable income into savings, it can have a profound effect on your future prosperity.
Super Booster Day is an initiative of the Association of Superannuation Funds of Australia (ASFA), encouraging people to augment their super contributions now and set themselves up to receive enormous benefits when they finish up at work.
Subtle sacrifices for gigantic gain
According to the SuperGuru website, cooking one extra meal at home per month can translate to an extra $38,000 to your eventual dividend. Making your coffee at work instead of heading to the cafe could save you $128,208. These are significant numbers considering the minor lifestyle adjustments they entail. It’s the subtle sacrifices that lead to a better retirement.
Comfort and style
According to the ASFA Retirement Standard, single people will need $545,000 in savings in order to have a ‘comfortable’ post employment lifestyle. Couples are said to require around $640,000. If you start to pay yourself forward, the small savings you make every month will add up to significant dividends over your working life. Think of it like saving up for an overseas holiday, where every wine you don’t have now is one you can enjoy at your exotic future destination. Chances are, when you don’t have work to worry about, you’re going to appreciate them even more.
Super Booster Day is Thursday, 15 September 2016
Combine your funds and take control of you super
You could be losing hundreds of dollars a year by not taking care of your super. If, like 45% of Australians, you’ve worked all over the place and have numerous rogue super accounts that need to be brought into line, your money could be being slowly eaten away by multiple fees and charges. It’s now even easier to find and combine your accounts, which will save you time and money and also give you better control of your investments. VISSF can search for your lost or unclaimed super accounts using your Tax File Number and combine them with the click of a button.
This article is issued by VIS Nominees Pty Ltd(ABN 11 006 586 367, AFSL number 235097,RSE Licence number L0000321), the Trustee of The Victorian Independent Schools Superannuation Fund (ABN 37 024 873 660, RSE Registration number R1000436, MySuper Authorisation 37024873660599). The information provided in this article is general information only and does not take into account your personal financial situation or needs. You should consider obtaining advice that is tailored to suit your personal circumstances.