On average, Australians are living longer than ever before. This means that saving to achieve personal income and lifestyle goals in retirement is becoming more important than ever. To maintain a lifestyle you have in mind for retirement means helping you manage your wealth more effectively now.
Superannuation is a very tax-effective way to save for a comfortable retirement… quite often your biggest asset outside of your home. It’s not an investment per say, but a savings vehicle through which you can invest into many of the same investments you can access outside of superannuation.
If you’re a long way from being able to access your superannuation, the forced saving aspect enables you to benefit from the wonderful thing that is compound growth. It can also be a way to access some personal insurance to protect your wealth.
If you’re close to retirement – perhaps income-rich with no mortgage – superannuation provides a tax-effective way to accelerate your wealth.
Taking a few steps now to boost your super will make a huge difference to your lifestyle in the future.