During your retirement planning process, it is important to think about how much superannuation is enough. While there is no hard and fast rule as to what constitutes “enough”, you can be sure that you will want to have the same standard of living when you retire.
Superannuation is a very tax effective environment to grow your wealth. Because of this, choosing the right super fund is extremely important as it can make a huge impact on the amount of money you receive when you retire.
Things to consider when choosing a super fund
When choosing your super fund, you will need to consider the following:
- The fees and charges.
- The insurance cover offered.
- The investment risk.
- The investment performance.
- Other services provided by the super fund.
Choosing a super fund is an important part of your financial planning which is why you shouldn’t have to do it alone. Our Axis advisors are on hand to discuss the many superannuation vehicles that are available to you (including self-managed funds, retail managed superannuation funds, and using a master trust platform).
Managing your super
The power and performance of your superannuation will determine your lifestyle beyond retirement so it is important to get it right. When managing your super, you will need to consider the following:
- Where and how your money is invested.
- What it is costing you to be invested.
- What your super fund earned, and at what risk exposure.
- How much you need to retire on, and how can you grow your balance.
- A regular annual review process.
Now is the time to take control of your life and start thinking about retirement. By investing wisely and choosing the right super fund, you are laying the foundation for a comfortable lifestyle beyond your employment.
To date, we have helped a number of individual and corporate clients grow their wealth and take control of their balance. We have ample experience and knowledge on the topic and would be very happy to discuss your options with you.