Whether you’re 10, 5 or even 1-2 years from retirement, you have plenty of options to help make the most of your super. The key is to start as soon as possible.
Retirement is on your horizon, so any action you can take now will get you closer to your ideal financial position. You may have already done a 5-Minute Workout on your super, so why not power-up your workout in these important years leading up to retirement.
First things first: know your super!
Understand the information your statements are providing and the investment option(s) you are in. Check your insurance cover and beneficiaries. Track down and consolidate any other super. Consider tipping some extra contributions to give your super a boost.
These are all important steps, along with setting your retirement goals and getting the right advice to help put your plans into action, to put you in a good position to maximise your super in the long term.
Here are some tips to help get you started – depending on how far away retirement might be for you:
At some stage, most people will seek advice about their finances, and in particular as they’re preparing for retirement. Getting the right kind of financial advice can make a big difference. It can help give you more confidence that your planning is on track for the future, or if it’s not on track, it can help you put some strategies and goals in place to improve your outcomes.Find out more
The Australian Securities & Investments Commission MoneySmart website has some suggestions of things to consider around retirement time.