Have you checked your superannuation investment settings recently? This article explains why you should do so, and how your personal financial circumstances should affect your choices.

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It can be tempting to treat superannuation as a ‘set and forget’ investment. In most years, your annual statement will show what appears to be a satisfactory growth rate, so why tamper with something that seems to be working reasonably well? However, depending on your age and goals, your superannuation fund account could have a more suitable mix of investments.

Put simply, you need an appropriate blend – for your particular circumstances – of growth potential and defensive security.

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Downsizing your home and contributing the proceeds to super may be a tax-effective option to boost your retirement income. But before you make the decision to sell, make sure you are aware of both the benefits and the possible drawbacks.

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The idea of downsizing can be very appealing to empty-nesters. There will be less cleaning, gardening and maintenance, more time for hobbies and travel, and the icing on the cake comes if you can use the cash surplus you created to give your super a significant tax-effective boost.

But is the picture totally rosy, or are there some drawbacks to downsizing?

Advantages of putting downsizer contributions into super

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This article sets out the different types of super contributions and explains them by age-group. It includes a table setting it all out clearly.

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The superannuation rules have become simpler and more generous over the years, but understanding what they mean for you can still seem confusing.

Here is a simple explanation of super contributions. Just refer to the table below for specific details and read further for a longer explanation under the age group that relates to you.

Major types of super contributions

Firstly, a quick explanation of the different types of super contributions available:

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This article discusses how major life events can impact your superannuation and how you can protect it. It highlights the importance of beneficiary nominations, legal considerations, and seeking professional advice to ensure financial security in retirement.

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The introduction of compulsory superannuation in 1992, embedded the concept of retirement saving into our investment psyche.

While Australia’s superannuation scheme has its complexities, the idea is simple: regularly contribute a percentage of earnings to a complying superannuation fund to provide financial support upon retirement.

Well, that’s the plan. But what happens if your savings strategy is disrupted before you get to retirement?

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This article provides five simple steps to conduct a health check on your superannuation. These steps empower the reader to take control of their super and ensure it aligns with their financial goals.

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Ensuring the health of your superannuation is paramount for securing your financial future. Just like an annual physical examination, conducting a regular "Super Health Check" can help you optimise your retirement savings and protect your financial well-being.

By following these five simple steps, you can take control of your superannuation and ensure it aligns with your goals and circumstances.

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In this article, we explore fun and engaging ways to introduce your children to the concepts of superannuation and investing via three different learning activities.

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Among the many financial concepts we juggle as adults, superannuation stands out as the cornerstone of retirement planning in Australia.

Yet, the term 'superannuation' often brings to mind a maze of complex terms that many find daunting.

This article provides ways you can transform superannuation from a puzzling concept into an exciting part of your child's financial education.

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This article explores superannuation for the self-employed, defining who a self-employed person is, and highlighting the shocking statistics on how few contribute to super. It also provides insights into the benefits of super for the self-employed and uses a simple roadmap to explain how to get started.

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When you're at the helm of your own business, it's easy to get caught up in the whirlwind of the present – chasing sales, generating leads, and growing your business. Often, self-employed people prefer reinvesting back into their businesses, hesitant to stash money away in superannuation. Yet, there's a compelling case for setting aside a slice of your earnings.

The facts don’t lie

At present, self-employed Australians are not required to contribute to superannuation.

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In this article we cover five steps you can take to boost your super and make sure your divorce doesn’t derail your financial future. {tab title="Introduction"}

Found yourself separated and suddenly single later in life? Life often has different plans for us than we may have imagined.

Life after divorce (or separation) might bring with it a whole range of new things, including the need to rediscover yourself, dipping your toe back in the dating pool (hellooo Tinder) and revisiting your plans for the future, in particular, your financial plans.

An essential financial aspect to consider here is your superannuation and retirement plans to make sure you are on track and not at risk of struggling in your later years.

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Self-managed super funds (SMSFs) are becoming increasingly popular among young Australians seeking to take control of their financial future. This article discusses the benefits and challenges of this investment strategy.

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While self-managed super funds have long been the preserve of older Australians with time on their hands and large superannuation balances, new data suggests that younger Australians are increasingly choosing to take direct control of their superannuation savings.

According to the Self-managed Super Fund Quarterly Report for September 2022, published by the Australian Tax Office, more than one in ten members of a self-managed super fund are aged under 45 years.

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The super guarantee (SG) is the minimum percentage of ordinary earnings that employers must contribute to superannuation for their eligible employees.

After years being stuck at 9.5% the SG rate is on the move again. It increased from 9.5% to 10% on 1 July 2021, and will increase by a further 0.5% each year until it reaches 12% from July 2025.

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Investing in property seems part of every Australian’s DNA. No matter where you buy, prices appear to be on a permanent skyward march with none of the unnerving fluctuations seen in other investments, such as the share market.

Ask anyone over the age of fifty what their best ever investment was, and inevitably they will answer, buying their own home. Their biggest regret? Not buying the house next door at the same time.

So where better to invest your precious retirement savings but in property?

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In this article we specifically focus on low income earners, reinforcing that even a modest balance can make a big difference in retirement and listing six tips to assist in growing their superannuation savings. The article finishes with a recommendation to seek professional advice.

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While it's easy to be discouraged by superannuation and fear you will never have enough money saved to stop working, remember even a modest superannuation balance can make a big difference in retirement.

For every $100,000 saved in superannuation, you can expect these funds to generate a return of 6%, or $6,000, a year. When this is paid out as a pension, it equates to $500 a month tax-free. Of course, this is doubled if both you and your partner have $100,000 each in super. Depending on your overall financial situation, this can be paid in addition to you receiving a full age pension.

Here are six super hacks to help you maximise your super balance:

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As any experienced investor knows, all investment markets have their ups and downs. Regardless of investor experience, turbulent times are a cause of anxiety, and that can lead to poor decision-making.  So if turbulent markets are inevitable, even if their timing is not predictable, how should portfolios be positioned in anticipation of, and in response to market volatility?

What’s your objective?

First up, it’s important to go back to your investment objective. Is it to grow wealth over the medium to long term? Or are you more concerned with preserving capital? Your objective also needs to take account of your risk profile. How would you feel if, for example, the value of your portfolio dropped by 20%? Would it lead to you dumping volatile investments such as shares, or would you see it as an opportunity to pick up some quality shares at a discount?

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As the COVID-19 virus took a sledgehammer to the economy, the federal government rapidly introduced a range of initiatives to help individuals who lost income as a result of the measures taken to control the virus.

One of those initiatives was to allow qualifying individuals access to a portion of their superannuation to help them meet their living costs. Withdrawals are tax free and don’t need to be included in tax returns. Most people can withdraw up to $10,000 in the 2019/2020 financial year and up to a further $10,000 in the 2020/2021 financial year.

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Since the Australian Government introduced compulsory employer contributions to people's superannuation funds in 1992, Australia's funds invested in super have grown to $3 trillion. In this time, self-managed super funds (SMSFs) have grown in popularity too. There are currently just over 1.1 million members with $676 billion in SMSFs across Australia.

SMSFs can have between one and four members. While not yet legislated, the government has proposed allowing up to six members in an SMSF. Most SMSFs in Australia have two members (70%), with most other SMSFs having a single member (23%). According to the ATO, the average value of assets in people's SMSFs is $619,000. The general recommendation is to have a minimum balance of $200,000 in your SMSF. While it can be tempting to see the potential of being in complete control over your super balance, it may not always be a good idea to set up an SMSF.

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This article answers 5 frequently asked questions about superannuation.

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If the ins and outs of superannuation leave you confused, the answers to these frequently asked questions will help you understand the basics.

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So many people ignore their superannuation statements and don’t realise the benefits of checking them on a regular basis. This article explains what to look for and what to do if changes are required.{tab Introduction}

Superannuation statements. Boring, right? But if, like many people, you toss your annual super statement in a drawer or hit delete, you could be depriving yourself of many thousands of dollars just when you need it. So it’s worth the small effort to take a closer look at your superannuation statement. If everything is in order, you’ll get a warm glow from watching your nest egg grow. Conversely, a quick check of your statement may reveal some of the common problems that occur with super; and the sooner these are fixed the quicker your savings can increase.

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This article explains the ‘downsizer contribution to super scheme’ which came into effect 1 July 2018. It covers the main rules of the scheme and the potential effects on super and the age pension.{tab Introduction}

Thinking of selling your home? Since 1 July 2018 you may be eligible to contribute up to $300,000 ($600,000 for a couple) from the proceeds of the sale of your home to your superannuation fund. 

This incentive, known as the ‘downsizer contribution’, is part of a federal government program to improve housing affordability. It offers a further opportunity for some home sellers to benefit from the tax advantages associated with superannuation. On the downside it may adversely affect eligibility for age pension.{snippet alias="article-message"}{/tabs}

The end of the financial year is rapidly approaching and, along with it, the opportunity to claim a tax deduction on additional superannuation contributions.The end of the financial year is rapidly approaching and, along with it, the opportunity to claim a tax deduction on additional superannuation contributions.

Why contribute more to super?

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This article discusses the differences between making pre-tax (salary sacrifice) and post-tax (tax deductible) contributions to super. It uses a case study to explain the potential differences.

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If you are an employee, there are two ways in which you can optimise the tax-effectiveness of your additional super contributions:

•    opt for a salary sacrifice arrangement, whereby your employer makes additional superannuation contributions beyond the compulsory superannuation guarantee (SG) amount from your pre-tax earnings and reduces your salary accordingly; or
•    make a personal contribution and claim a tax deduction when you submit your tax return.

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