Superannuation
Consider superannuation as a savings plan during your working life which grows with compound interest over time.
The end goal being that your superannuation policy will provide a regular income in your retirement and an income which sustains a lifestyle which you are used to living.
The key difference between your savings and monies in a superannuation fund is that of accessibility. Superannuation is specifically designed to be accessed after a certain age and once you are retired from the workforce so in effect it is a long term savings plan to help you enjoy life in your retirement years.
How is superannuation invested?
There are a number of ways in which your superannuation is invested; some superannuation funds even offer you a choice of where monies are invested. Below we have highlighted some of common areas where superannuation is invested: -
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Local or International Share Markets |
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Commercial and Residential property |
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Interest bearing cash accounts or through managed funds |
Many people have multiple superannuation policies simply due to changing jobs and not rolling over their old superannuation into the new employer’s fund.
The fees associated with multiple funds does erode your overall investment return due to these fees so it is more cost effective to have one superannuation fund hence one set of fees.
To find out more about your superannuation options and how to maximise the growth and overall return on your superannuation investment simply call us on or via this site.
Alternatively you can find out more about through out parent company.
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