Financial Wellbeing
Super can help you achieve financial security in retirement
Super is vital to your financial wellbeing in retirement. When you cease working, it may well be the largest asset you have, along with your home.
Without a significant super payout, you may find yourself over-reliant on the aged pension when you retire, which may not give you the lifestyle you want.
Because super has significant tax concession your invested money can potentially grow in value faster than investments that do not have similar tax advantages.
These tax concessions should not be ignored.
With careful planning, you can take full advantages of super tax concessions to maximise your super payout.
Significantly, the tax concessions in super extend to retirement income investments such as allocated pensions (e.g. Club Plus Pension). This means once you retire and roll over your super into an allocated pension you can also benefit from ongoing tax advantages including a tax-free income stream.
So the more you save in super during your working life, the bigger the nest egg you will have which you can then convert into an income stream for your retirement years.
