Have you been paid your super? It pays to check!

For those of you currently employed on a salary, your employer pays your superannuation fund 9.5% of your earnings payable each quarter. This is known as the Superannuation Guarantee (SG) contribution. Some employers choose to pay monthly. However, most pay quarterly and today (October 28th) is the payment due date for the July -September quarterly payment. Have you been paid your contribution? It’s important to keep track of these payments. It’s your money and it will play a big part in your retirement. The other thing to consider is where this money is invested. Most Australian’s have some level of exposure to the local stock market via their superannuation. Over the last week or so, our stock market has declined by around 4%. What this means is that when your SG payment is made (hopefully by today), it will be invested within your super fund. With stock markets being down a bit, your super fund will be purchasing assets at a cheaper price. Is this important? Trying to time investments is very difficult and often, people get it wrong. Buying at the bottom and selling at the top sounds great in theory but almost impossible to achieve consistently. Having said that, your super payment is due to you. Markets are down a little, your super fund should receive a bit of a boost because of this. At Hindsight Wealth we monitor our clients SG contributions. Who’s monitoring yours?

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