The Super Fund Co. Blog

It’s a well-known fact that women typically have less superannuation than men. This is due to factors such as lower wages, time out of the workforce to raise children, choosing to work part-time rather than full-time, or major financial stresses such as divorce.

But when you look at the average super balances between the genders, it can be quite confronting:

So if you’re a woman, what can you do to maximise your super?

1. Get advice from an experienced, qualified financial adviser, like those at The Super Fund Co. This is the quickest and easiest way to find out exactly what you can do to retire sooner
2. Consolidate your super funds. Many of us have several superannuation funds from different jobs (in fact, the average Australian has four super accounts in their name!) This means that you’re being charged multiple fees and insurance premiums, which are eating away at your retirement savings. And while you’re at it – do a search (or contact us) to see if you have any “lost”, unclaimed super out there
3. If you’re a low- to middle-income earner, consider making personal contributions to your super in order to receive a co-contribution from the Government
4. Regardless of your income level, consider salary sacrificing or making personal contributions to your super. The compounding effect of regularly contributing even small amounts can have a significant impact, as well as reducing your tax
5. Make sure your super portfolio is right for you, depending upon your stage in life and your retirement goals. Should you be in a Growth fund, or a more Conservative portfolio that may not return as much but is less exposed to fluctuations?

The good news is that The Super Fund Co. can help you with each of the above items. Email or call us today to talk for an obligation-free chat about how we can help you take control of your super and your retirement.