Whether you are in your first job after leaving school or only a few years from retirement, it pays to understand how superannuation works.
By the time you are ready to retire, your superannuation could have grown to be one of the largest assets you will have in your life.
This is your investment in your future. It’s important to understand why you need it, what you’re entitled to, how you can contribute and how you can best manage the money for your retirement.
A canny investor must consider the risks.
This planner works out how much you could save in your super until you retire.
Once you retire, it assumes you don't contribute any more to super. So then it works out how much you can draw out of your super
in retirement.
Finally, it works out how much of the government age pension you may be able to receive.
But first, check out this Retirement Planner Engine from the Australian Government.
You should take action to manage your debts as soon you can, to avoid your debts spiralling out of control. You could try:
Financial Planning is a program of helping you identify and define your personal and financial goals. Once identified, a strategy can be tailored to reach these goals and objectives. Implementation of your own personal financial plan is the first step on the journey to financial freedom.
LIBRARY CATALOGUE
(Credit ASX Pty Ltd)
Australian Stock Exchange
MoneySmart is aimed at helping all Australians by offering free, independent guidance so people
can make the best choices for their money. The website covers the basics such as budgeting, saving,
credit cards and loans, and more complicated issues such as optimal superannuation contributions,
margin loans, reverse mortgages and income tax.
