How to review your superannuation situation
Hopefully by now you’ve watched a few of our superannuation videos, and read some of our blog posts on how to plan for your retirement, but are you still wondering ‘where on earth do I start!’? Here’s a few steps we recommend you take, to give you an idea of where your super is at.
1. Track down your super fund statements
Your superannuation fund should supply you with statements – for some people it will be just one statement a year, for others it will be more. You’ll need these to help you assess where you’re at. It’s also worth checking what fees you’re paying across your funds, they can add up!
2. Look at your balances and investments
Check how much you have in your super account and what kind of investments your fund is made up of. Are they proactive ‘growth’ investments like property? Or are they defensive, ‘safe’ investments like cash and low-risk shares?
3. Check what insurances you have
You may also have insurance policies attached to your super fund (or funds, if you have more than one) like life insurance or income protection. Before you start looking at how you can optimise your super situation, it’s worth checking what insurances you have so you don’t lose them if you start moving things around.
These three checks and balances are your starting point so having this information at hand will help you make some educated decisions, or start the conversation about whether you’re on track.
So how do you know whether your super is in a good place, or needs some TLC? This is where we can help. We’ve got a simple report we can send you, which takes your information and provides an indication of whether you’re headed where you want to go.
From there, we can look at what strategies and plans we can put in place to take your superannuation from a good, to a great place. If this sounds like something we could help you with, please do get in touch. Don’t forget to keep an eye on our Facebook and YouTube, where we regularly share our top retirement planning tips.