Super is easy to ignore when retirement feels decades away. But a few small mistakes today could make a pretty big difference to your future balance.
Tash and Ana run through eight common super mistakes, from accidentally paying multiple sets of fees to having no idea what your super is actually invested in. They also unpack some of the less obvious things worth checking, like insurance, beneficiary nominations and whether extra contributions could fit into your bigger financial plan.
In this episode:
π° Why having multiple super accounts could mean paying fees and insurance more than once
π° How to check whether your employer is actually paying your super
π° Why super fees can be surprisingly difficult to understand, and where to look for them
π° Why \"set and forget\" doesn't mean never checking your super again
π° How your investment option, time horizon and risk tolerance can affect how your super is invested
π° Ways you may be able to grow your super through extra contributions and government incentives
π° Why it's worth checking the insurance inside your super, especially when your circumstances change
π° The difference between binding and non-binding beneficiary nominations, and why your will may not be enough
π° Why super shouldn't necessarily be treated as completely separate from the rest of your financial plan
The big takeaway? You don't need to obsess over your super every week. But spending a little time checking where your money is, what you're paying, how it's invested and whether your setup still suits your life could make a meaningful difference over the long term.
Disclaimer: Any advice is general and does not consider your financial situation, needs or objectives, so consider whether itβs appropriate for you. You should also consider seeking professional advice before making any financial decision.
Tash Invests Pty Ltd is a Corporate Authorised Representative #1317713 of Rask Licensing Pty Ltd. Read the FSG available from https://tashinvests.com/links
Pearler is an Authorised Representative #1281540 of Sanlam Private Wealth Pty Ltd AFSL #337927. Read the FSG available from https://pearler.com/financial-services-guide
If you are considering any of the products we spoke about during the show, be sure to read the Product Disclosure Statement & Target Market Determination available from the product issuerβs website before deciding.
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