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Superannuation: Too important to ignore

Superannuation is the one thing you could do for your financial future this year, that could make a big difference to your retirement income.

But how much do you really need?
That’s a big question.

As we know, everyone’s needs are different, unexpected expenses just crop up and none of us know how long we will actually be in retirement. Of course, we expect the age pension to be around in years to come, but just how generous the country can afford to be with this payment, and who will be eligible, is also unknown as this may change year to year and none of us have a crystal ball.

So what exactly are the big expenses in retirement we need to budget for?

  • Healthcare
  • Groceries
  • Utilities
  • Travel
  • Entertainment
  • Planned or unexpected expenses such as a new car or home renovations

And what are the major impacts that could affect our superannuation?

  • How long you live
  • The rate of inflation
  • How much you earn on investments
  • Whether or not you have dependants – yes some retirees have dependants!

It is wise to have a plan when it comes to your retirement income and a professional financial adviser can help you get a plan in place that is easy for you to manage now, and meets the needs of your ideal retirement.

If you want to get your super sorted this year, give us a call.

Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of Millennium3 Financial Services position and are not to be attributed to Millennium3 Financial Services. They cannot be reproduced in any form without the express written consent of the author.

The information provided in this document, including any tax information, is general information only and does not constitute personal advice. It has been prepared without taking into account any of your individual objectives, financial situation or needs. Before acting on this information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser. From time to time we may send you informative updates and details of the range of services we can provide. If you no longer want to receive this information please contact our office to opt out. Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 AFSL 244252 M3articlehub.com | Superannuation: Too important to ignore