10 super things to do in the Year of the Goat
Tags: super, financial health check, new year, investments, superannuation
Happy Chinese New Year! A tradition at this time of year is to give money to friends and family in a red envelope... Consider this checklist of 10 super things to do our red envelope to you :)
- Find your most recent super statement. (It’s amazing how many people don’t get past step 1!)
- Find out if you have more than one super account – do a lost super search with the Federal Government’s SuperSeeker service
- Review your super’s performance. Compare it against other providers and indices – but remember to always compare apples with apples (i.e. compare a Balanced portfolio with another Balanced portfolio, a Growth portfolio with a Growth etc)
- Consider whether you’re in the right portfolio. Does a Growth portfolio suit your current risk appetite, or would Conservative Growth be more appropriate? (Do our Risk Profile if you’re not sure)
- Review the fees you are paying. There may be some fees hiding in there – have a good look through your statement. Always consider this in line with the returns you’re receiving as well
- Check to see if there is any insurance attached to your superannuation and the costs of this insurance. Are you doubling up with any of your other cover?
- Check to see that your employer is paying your super correctly - it should be 9.5% of your salary
- Consider the benefits of salary sacrifice. Use our Contributions Calendar to understand the impact tomorrow of extra contributions today
- Set a date in your calendar on an annual basis to review not only your super, but any other investments outside your super. An annual financial health-check!
- Speak to an adviser from The Super Fund Co. about a complimentary review of your super to discuss any of the above points, and to ensure you are on the right path.
