The hustle and bustle of life can often lead to superannuation being an afterthought.
However, as the cost of living rises and people are living longer, having a healthy super balance is becoming increasingly important. No matter your stage of life, it is never too early or too late to be pro-active about your superannuation.
In this recent WD Life blog we look to provide some simple tips on maximising your super balance.
Review Your Fund’s Performance
It is critical that you regularly review the performance of your superannuation investments as your balance continues to grow. Your super investments should be working for you, not against you! If an investment is not achieving the performance you would like, consider looking at opportunities to seek alternatives that may align with your goals.
Find a Suitable fund
When choosing a suitable Super Fund that meets your goals, you should consider the below points:
- Compare fees of Super Funds and their investment options
- Consider consolidating multiple super accounts to minimise fees and confusion
- Be aware of any insurance policies you may hold through your Super account. See if these insurance policies can be rolled over to another Super Fund.
Get Advice!
Seeking advice from a licensed professional can ensure that your superannuation benefits are being well managed and provide you with a clear and effective retirement strategy in line with your goals. Additional, industry professional’s have access to a multitude of superannuation data and software that can help pick the right Super fund for you.
The Wealth Depot team would love to be part of growing your retirement savings. Please reach out and make contact with us to find out more!
