Maximise Your Super: Tips for a Wealthier Retirement with Anne Fuchs

When’s the last time you checked your superannuation?

A lot of Australians may not realise it, but they may be sitting on a monster. Our choices made when we’re young could be worth thousands or even millions of dollars in retirement. That is why Australian Retirement Trust is calling all Australians to awaken their super.

In this episode we cover:

The stats about how dis-engaged Australians are with their super
What we can all do to ensure we’re on the right track
How we can think about what we will need in retirement
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This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional.

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[paulsteven]

When I was 18 & started work my father talked to me about super & retirement. Best 2 pieces of advice. 1 Put extra into super, even if a few dollars a week, as you never had the money so you will not miss it. 2 Live well within your means. In my 50's now planning early retirement. I see exactly the same thing now as 30+ years ago. People spend spend spend then blame government & everyone else. People I started working with have less than half the super I do, will be lucky to pay the mortgage off by 65. Sure people can live their lives, but most people only have thenselves to blame.

[coffeehouse]

bit of a weird question, do you have to be working to start a super fund, or can you start one for young kids? and get the compounding working at an earlier age.

[robsalvv]

If you can afford to salary sacrifice to the max on top of the SG, the super balance at preservation age will be very substantial and probably challenge the transfer balance cap at retirement. That is waaaay above the minimum for a “comfortable retirement”. Your older self will thank your younger self if you can manage to do this.

[rossbaker]

How do you factor in inflation over the years of work to retirement when factoring in your balance for retirement?

[rossbaker]

Jeezus 40 years olds with only 90k that’s not great.

[gregstafford]

What would you say if you were salary sacrificing to your edge in your 40s hoping to retire in your 60 but then The government changes the rules of when you can access your super to 70. ??? Then what do you do???

[marknolen]

I'd suggest the $560k would be if you are 67 and retiring this year. Therefore I would add inflation costs to the equation to increase this balance when hitting retirement age.

[rossbaker]

Money smart calculators says I should have 1, 023, 774 by age 67 😊

[timsynnott]

Libs gave a super release, that was awful

[joepistone]

100% reason why we don't pay too much extra to super is lack of accessibility

[drobeofwar]

The government seems to think superannuation is not for being wealthy, it's just for bare minimum sustenance