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

Does one size fit all when it comes to Superannuation?

Super Choice – how can employers help their employees? Since 1 July 2005, most employers have been required to give their employees a choice of fund for their superannuation guarantee contributions. It is only if the employee fails to choose, or chooses a fund which cannot be used by the employer, that the employer will be able to choose the fund. Prior to this, employees essentially didn’t have a choice and they were basically stuck with the fund their employer chose for them. In the past decade since “Super Choice” was introduced, there has been a great deal of competition in the superannuation market given that employees can choose where to put their money. A competitive market is good for consumers with an almost limitless choice of highly developed options for employees to choose from. So, what does this mean for employers? Well, in the early stages of this change it was essentially an administrative burden as large companies with large numbers of staff were faced with p...
Post a Comment
Read more

Is Your Life On Track?

A complimentary review of your super and insurances is the first step we take with you at Hindsightwealth.  Put it on your new year resolution  "to - do" list. Andrew O’Brien and Hindsight Group Pty Ltd t/as Hindsight Wealth Pty Ltd (ABN 88 168 442 528) are Authorised Representatives of Affinia Financial Advisers Limited ABN 13085335397 & AFS Licence No 237857. The material contains general advice only and the consumer should consider the PDS and whether the product is appropriate prior to making a decision to buy.
Post a Comment
Read more