o is the state of your superannuation fund(s). Make sure that you regularly bolster your super by making personal contributions. There are two distinct benefits to doing so: not only will you have more money when you reach retirement age Cheap Sports Jerseys , you will also have grown your fund in a very ‘tax friendly’ way. As you count down the years to retirement it is very important that you ‘stay on top’ with what is happening with your super. Here are a few suggestions for doing so:
-Stay up to date: Make sure that you keep all documents relating to superannuation in one place and that you carefully read all correspondence and statements. This will allow you to have a consistently accurate picture of where your fund is heading. -Keep your details up to date: The best way to prevent your super from ‘getting lost’ is to make sure that your fund has your latest contact details. -Make sure that your super fund has your tax file number (TFN): You may be paying more tax on your super than you have to. Giving your fund access to your TFN will reduce the likelihood of this happening. -Consolidate your funds: If you have worked for a few different employers or airlines it may be that you have small amounts of super in a few different funds. It’s worth investigating whether you will not be better off combining these funds into a single super fund. This will make your funds easier to manage and will, in most cases, reduce the fees and charges you are required to pay. The key questions you will need to ask before you consolidate funds are: Are you losing valuable insurance cover by doing so Cheap Jerseys Free Shipping , or if the funds that you belong to charge such high ‘exit fees’ that moving will not be worth your while. -Keep a close eye on your fund: It is very important that you carefully read all correspondence from your fund. This will, among other things, help you understand the investment approach that governs your fund. You should also benchmark the performance of your fund against that of similar funds. If you are unhappy with either the investment approach or performance (or both) it might be a good idea to move to another provider. It is Cheap Jerseys Wholesale , however, highly recommended that you get professional financial advice before doing so.
-Keep a close eye on the market and economy: Unless you want a repeat of Ansett, get yourself a good financial adviser who will act for you according to changes in economy Cheap Jerseys From China , industry and markets. You don’t let an auto-pilot do all the work, so don’t leave your super to an empty cockpit.
-Take control: Consider a self managed superannuation to take control where your money is invested. It may workout much cheaper for you to pay few hundred dollars a year for accounting rather than pay 1%-3% on your balance each year.
Good luck.
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