We are only a couple of months into the new year, are you keeping up with your resolutions so far? Most people’s resolutions are similar if not the same; to eat healthily and lose weight, and/or to work on finances and get them headed in the right direction. Finances can take on many different directions and a good financial plan is going to vary greatly from person to person. So how do you go about getting advice for things such as your super? You can certainly start right here and you can do so for free!
First, let’s review what a superannuation is and why it’s important for your financial plan. A superannuation (super) is set up and contributed to by your employer. An employer is required to contribute 9.5% of your income every month into the fund. Your super then grows in the fund over the years until you retire when you can access it.
You can often get free advice from your super fund or industry fund itself. However, this advice is often basic, and more comprehensive services or advice usually comes attached with a fee. Another thing to consider is that industry and retail super funds may not always be the best idea or have the most advantages.
Another option that’s become popular among Australians is managed superannuation. With a traditional industry or retail super, the mindset is that you set it up and then forget about it until you reach retirement age. Unfortunately, this is leaving many Australians with the realisation that they don’t have the amount of money that they need in order to live a comfortable retirement.
How’s a managed super different? A managed super is proactive and it provides greater control. Our goal at Paradise Financial Group is to help you grow your super now and in the future. The control of your retirement savings shouldn’t be in the hands of chance. At Paradise, we truly believe in involving our clients in the retirement savings process every step of the way. If we believe there’s a way your money can grow better or quicker, we converse with you and go over all of the options available to ensure that you’re able to make the most out of your super.
With a managed super, your money is invested in retail and wholesale funds. The funds are hand selected by our team of professionals and are also typically only available to high-level investors due to the amount of money required to invest in them. However, with our strategy, you have access to funds that have less risk and a better rate of return.
In addition, your super is always tracked and monitored by our experienced team. This ensures we’re on top of your investments and can adjust strategies as needed. It’s reviewed regularly so it refects your lifecycle as well.
For more information on managed superannuation funds, contact Paradise Financial Group today so we can show you how a different type of super can help you achieve your retirement goals on terms that you decide.