You might have more Super than you think.

Keeping track of your superannuation can be difficult. Especially when you consider the average time Australians are currently spending in a job is just over 3 years.

So in a 50 year working life, on average you’ll have around 17 jobs. That’s a lot of super funds to keep track of. Each one of your funds could be charging you fees and each of them could have insurance built into them. It may not sound important, but it really is. You could be paying more than you have to and you could be paying for insurance elsewhere when you already have it.

Worse still, if something happens to you and you need to claim on that insurance, you may not know where to find it. As part of the rollover consolidation process that I undertake with clients, a free “super search” is conducted based on your tax file number. Various searching services have been around for a while, however, they usually charge a fee, take a long time and require you to complete lengthy forms. Our process is simple, quick and doesn’t cost you anything.

Searches over the last few months have yielded significant amounts of super funds for my clients. It’s always a pleasant surprise for a client when I ring and say “look what I found.”

For further information, please don’t hesitate to call or email me. Better still, drop in for a coffee and a chat in the office. Tracking down all of your super and consolidating it into one fund will make a big difference to the end result.

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.

Comments

Don't Wait till you're in your 60's to see a Financial Adviser

Ask most 30-year old’s who their financial planner is and the typical response might be ‘huh?’ After all, financial advisers are for older people with plenty of money to invest, aren’t they? Well, yes, people nearing or in retirement will benefit from sound advice. But so will younger people. With the benefit of having time on their side, and with some help from an adviser, a 30-something can easily establish a wealth creation plan that can deliver a big payoff in the future. Harness compound interest It’s been called the most powerful force in the universe, and compounding returns – earning interest on your interest – can deliver dramatic results. Imagine that, at age 30, you commence a simple savings plan. You contribute $2,000 each year to an investment that delivers an after-tax return of 6% pa. After 30 years you will have contributed a total of $60,000, but your investment will be worth $158,116. The magic of compound interest will have delivered you an effortles...

What to do if your job is made redundant.

Being retrenched from your job can be hard to accept. It is the sudden shock that catches most people but try not to take it personally. Redundancy is usually not about your personal performance; it’s the performance of your employer’s business, the industry sector in which you work, or even the global economy. Dealing with the key considerations below can help you take back control of your life and career. Take control Redundancy payment : Genuine redundancy payments are given special tax treatment, including a tax-free amount related to years of service. Your lump sum payment might be your last pay packet for a while, so draw up a budget. This will help you identify areas where you can economise until you find a new job. Your financial adviser can help you work out the best use for any lump sum you receive. Mortgage : If you have a home loan, contact your lender immediately. You may be able to adjust payments while you are out of the workforce. Centrelink :...

Before you get excited (or not), I don't offer Pet Insurance, however I have received many questions about it. So I thought I would offer some thoughts to consider for your independent pet insurance research. Australians are a nation of animal lovers. According to the Australian Companion Animal Council, we have one of the highest incidences of pet - ownership in the world! Dogs and cats are our favourites; around 36% of Australian households own a dog, and 23% own a cat. We're familiar with the companionship pets bring, and the social interaction they foster, but there are other benefits too: Lowered blood pressure and cholesterol; Increased physical activity; Strengthened immune system and reduced incidence of allergies and Children learn responsibility, empathy and respect. When considering a pet, you expect costs like food, bedding, the annual vet visit and so forth, but there are other costs you may not have thought about. Let's start at t...

Wealth Creation Blogs Worth Sharing.

Search This Blog