Skip to main content

A Checklist for getting your Super sorted.



I’ve posted plenty of information recently in relation to superannuation and there’s no doubt that it can be a little confusing.  I thought it might be useful to put together a quick checklist that you can run through in 5 minutes and identify whether or not your super is on track.

Do you know where your super is?  Yes ¨    No ¨

Is your employer paying you your superannuation guarantee payments?  Yes ¨      No ¨
The current rate is 9.5% of your income payable quarterly on 28 Oct, 28 Jan, 28 Apr & 28 July.
You should have just received a payment, did you?

Can you log in on line and check your current balance?  Yes ¨   No ¨

Is your superannuation invested appropriately based on your time horizon
and investor profile?  Yes ¨     No ¨

Do you receive regular communication from an adviser to help with your investment decisions?  
Yes ¨   No ¨

Have you completed a review of your insurances within superannuation?  Yes ¨   No ¨

Do you know what fees you’re paying?  Are you getting value for money?  Yes ¨ No ¨

Does your current fund have your tax file number recorded? You could be paying more tax on contributions than you should be. Yes ¨    No ¨

Do you have a binding death nomination in place? If something happens to you, your super funds should go where you want them to.  Yes ¨  No ¨

Has your super fund performed a “lost super” search for you?  You may have more super than you think!  Yes ¨    No ¨

If you answered “No” to any of the above, you should make the time to review your superannuation. 

For the majority of people, superannuation can’t be accessed until age 60 which means that getting things right isn’t really a top priority.   “I’ll worry about it when I’m older” is a common theme.  Setting up your super correctly now will make a huge difference to the end result.

I am always available for a coffee and a chat to look over your latest Super statement with you. My details are on this post to make a time to meet up.


You or people you know maybe interested to join my Pizza Business after hours this month?  An informal gathering to meet me and to bring you up to date with useful information on your Super and how you could be making it work harder for you. Interested?  Click here to see more details. 

Andrew O’Brien and Hindsight Group Pty Ltd t/as Hindsight Wealth Pty Ltd (ABN 88 168 442 528) are Authorised Representatives of Synchron AFS Licence No 243313.  Andrew O'Brien. FINANCIAL ADVISER. P 07 3852 3025  M 0403 156 625  E andrew@hindsightwealth.com A Suite 4 / 30 Florence Street, Newstead QLD 4006. View our Privacy Policy here.

Labels:

Comments

Post a Comment

Popular posts from this blog

Times are tough. How can you position yourself to minimise the impact?

The last few weeks have been extraordinary to say the least. We’re battling a world wide health crisis and we face uncertainty in many aspects of our lives.  It’s true that there are simply some things beyond our control and we will more than likely see many changes to our everyday lives for the remainder of 2020 and beyond. So, what can be done?  On the other side of this, many people will be left with dramatic financial stress, whether it be periods of unemployment, depleted cash reserves or battered superannuation balances.  And for many, timing will be an issue. Those who were weeks ago contemplating retirement may now need to change their plans. And those that are still accumulating for retirement have more than likely just seen their investments and superannuation return to levels of 5 or 6 years ago. Essentially the clock has be wound back in one way or another.  It may well be a good time to take stock and lay some foundations for when thing...
Post a Comment
Read more

There is no better time than right now to review your super!

So by now we all know that Australian and global investment markets have fallen significantly, it’s on the news, in the papers and I’ve been publishing recent posts about it on LinkedIn. What’s causing it?   Truth is, it doesn’t really matter.  Oil prices are down, there’s talk of China slowing, commodity prices are down and so forth.  Historically there is always something occurring on the world stage that can cause negativity in markets.  Investors start to worry, they sell their investments at low prices, lock in losses only to have someone come along, buy them up and enjoy the gains as things recover. Warren Buffet, the world’s most famous stock market investor famously said, “The stock market is a device for transferring money from the impatient to the patient”. And we can see this today.  As I write this, global stock markets suffered a large decline over night, with the expectation being that the Australian market would follow this morni...
Post a Comment
Read more

Are You Starting Again?

For those of you currently working in the resources industry, you would no doubt understand that the potential downside is the punishing rosters and long periods away from home that can take a toll on your family and personal life. Sure, the money is good for the most part, but it comes at a cost. Unfortunately, many marriages suffer irreparably and many industry workers find themselves having to “start again” after relationship breakdown and divorce.  It can be an extremely difficult time and apart from the emotional strain, there’s the stress of having to rebuild financially.  Quite often, you may find yourself in a situation where you’re left with minimal assets and essentially must start again. In this situation, it’s critical to make sure you have your superannuation structured and invested correctly. If you’ve come through a divorce with your superannuation intact, it may end up being your biggest asset. You really need to get it working for you. The othe...
Post a Comment
Read more