Superannuation and young Australians

Does the word superannuation send you to sleep like a multitude of young to middle aged Australians? It shouldn’t – it could be your largest asset.

Superannuation and young Australians – I thought I’d start my research by asking the man who will most likely choose my nursing home what he knew about his superannuation.

Yes, I received a blank look and a rather disgusting comment about the success of writing a blog about such a boring subject!  I nagged a bit more – how much do you have?  Surprisingly he did know, approximately!  Did he care what was happening to it?  “Only that it doesn’t get lost!” in a tone suggesting it might be best if I did.

My passion is superannuation or, rather more importantly, Self Managed Superannuation Funds.  What most young Australians don’t realise is that they can, to a certain degree, self manage, even in a retail or industry fund.

I ranted a bit more – would you be interested if I told you that between now and your retirement, in say 45 years, if you added to your superannuation the equivalent of the price of a can of coke every day, so around $15 a week, all things being equal it will increase your retirement benefit  in excess of $60,000?  Now that did interest him! Why? Because it’s achievable, virtually painless and foolproof.

Optima Partners can assist you with these types of puzzles and anything related to Self Managed Superannuation. Keep following for more interesting, out there, timely and topical superannuation ideas.

Contributed by 

Liz Gibbs – SMSF Manager

Optima Partners, March 2015