Justin No Comments

Super – How much will you need?

Have you ever considered how your super will fund your lifestyle in retirement? Like many Australians, you may contribute regularly to your superannuation fund, but have you actually determined how much you will need to survive once you stop working? Waiting until you retire to do the sums is leaving it too late. There are a few questions you can ask yourself, in order to help yourself decide how much you are going to need to have in your super account when you retire.
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Justin No Comments

Superannuation

What is Superannuation?

Superannuation is a way to save for your retirement. The money comes from contributions made into your super fund by your employer and, ideally, topped up by your own money. Sometimes the government will add to it through co-contributions too. Your employer must pay 9% of your salary into a super fund. This is called the Superannuation Guarantee and it’s the law. Over the course of your working life, these contributions from your employer add up, or ‘accumulate’. Your super money is also invested by your super fund so it grows over time. When you retire, you will have money to live off – a nest egg.
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