Super Starting Out 2

Entering the workforce is an exciting time and an opportunity to get your superannuation savings off to a solid start. No matter how much you earn or hope to earn in the future, there are a few things you can do now to maximise your savings. 

Starting Out Right

  • Number1

    Consolidate your super

    The chances are you have already had several part-time or casual jobs and have accumulated a few different superannuation accounts. Even if the amounts in these accounts are small, it’s worth consolidating them into one. The interest they add to your savings over the next 30 to 40 years may be significant. Find out more or search for lost super through the Australian Taxation Office.

  • Number2

    Make a contribution

    If you are a low to middle income earner, then any extra superannuation contributions you make from your take-home pay will be met with a co-contribution (up to $500 p.a.*) from the government.

    *ATO 2013-2014

  • Number3

    Take a risk

    Everyone has a different level of risk they are comfortable taking and your employer’s default superannuation fund may not reflect your risk appetite. Perhaps you’d prefer to invest in riskier, high return investments or aim for more stable, long-term growth strategies. Talk to an adviser to make sure your superannuation investments reflect your preferred risk profile.