Peninsula Partners Accountants

Why Superannuation is so Important

Whether you are 17 or 70, superannuation is incredibly important.  Broken down by a few different age categories, here's why:

Under 30

  • It's yours, and it's bonus money - ok you can't access for many years to come, but it's 9.25% additional money that your employer gives you  
  • You have the power of compounding on your side - over time, this money grows, and the earnings on this money grows
  • Combine it into one fund ("superannuation consolidation") to save on fees and charges
  • Contact Peninsula Partners to find your lost super and roll it into one fund of your choice

Age 30 to 55

  • This period of your life generally sees your earnings grow, and your superannuation should be growing at the same time
  • Incredible tax advantages are on offer
  • Whether it is through establishing your own superannuation fund or through that of an established institution, a bit of planning and wise investing can lead to a secure future and an early and comfortable retirement
  • Remember, the Aged Pension is less than $20k per year for individual, and less than $30k for a couple - superannuation is the key to having more than that when the time comes  
  • Contact Peninsula Partners to learn how to maximise your future wealth, save tens of thousands of dollars in tax, and also make sure you follow all the rules (the government never makes it easy!)

55 Plus

  • superannuation planningNow it is payoff time - all that money has been accumulating, and depending on your age, you can start accessing it during your retirement planning
  • As usual, the government has rules around how you access it, which can make a lot of difference to how much you get to keep versus how much the government will take in tax
  • Contact Peninsula Partners to ensure you have enough, and for the rest of your life.