MACKAY tops the list in Australia with over $49M in lost superannuation accounts.
This reinforces what Alman Partners believes is an important underlying issue;
A Majority of Australians are dis-engaged with their superannuation!
There are many reasons why this may be the case, but the reality is that these savings are your hard earned money and finding this super and putting it to work for you will assist to achieve your retirement goals. Superannuation assets often have the longest investment time to work for you, in a tax friendly environment, so the decisions you make today are crucial.
Here are a few questions to help you understand if you are engaged with your superannuation?
- Do you know if you have lost super or do you have multiple superannuation accounts?
- How is your superannuation invested/allocated?
- Do you know your alternatives – super funds, options available, products, etc?
- How does this fit in your overarching retirement plan/strategy? Or how do you measure if you are on track or not?
- How do you assess ‘investment return’, ‘level of diversification’ and ‘administration and product fees’?
- Do you hold adequate personal insurance in your super? How competitive is the pricing?
- How do your nominated superannuation beneficiaries fit within your estate plan (ie Wills and enduring powers of Attorney etc)? Is that the most tax effective outcome?
How did you go? More importantly, what do you need to do to close the gap, take control and give purpose to your superannuation capital (and personal investments for that matter).
Engaging expert financial advice is the best way to increase your confidence that the financial decisions you make are moving you and your family closer to living out your goals, dreams and aspirations. True Wealth!
Alman Partners has provided trusted advice and financial education to families, individuals & businesses in our region for over 30 years, and we are proud to have assisted them in achieving the quality of life they aspired to.
If you would like to speak with one of our highly qualified advisers about your superannuation or other wealth creation strategies, please register your interest for a complimentary meeting below:
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