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Add $180K to your super in 3 easy steps

Superannuation  |  8/08/2017  |   4 min read

While superannuation is something that most people associate with retirement, it’s the choices you make in your 20s and 30s that can have a real impact on your future balance. The good news is you can sort out your super in a single afternoon. And three steps we’ve outlined below can add over $180,000 to your final balance.

1. See how your super is tracking

A retirement calculator lets you project your future superannuation balance. You can adjust things like income, retirement age, and investment options to see how they’ll impact your final balance. Equip offers a free retirement calculator on our website, it’s a great place to get started and understand how your super is looking.

2. Check your investment strategy

If you haven’t paid much attention to your super you’re probably in a default, middle of the road investment mix. This is usually known as a ‘MySuper option’. It may not be the best place to investment your super savings.

As a simple example, let’s say Laura is 28, earns $60,000 a year, and has $20,000 in her super. Based on a default superannuation strategy* she can expect a retirement balance of approximately $310,000.

Here’s where it gets interesting. If she were to adjust her investment strategy from the default MySuper option to a more aggressive, growth orientated strategy, that same balance would be approximately $430,000 at retirement, an additional $120,000.

Adjusting your investments is easy, just log into your account and select the investments tab. You can view Equip's investment options here

3. Think about salary sacrificing

Want to boost your super even further? Adding a little extra to your super from your monthly pay cheque is a great way to save tax and grow your balance. It’s called salary sacrificing, and it’s very easy to set-up. Just talk to whoever handles the payroll at your workplace and ask them to put an extra $20, $50 or whatever you can afford into your super each pay cycle.

Using Laura as an example, let’s say she adds an extra $20 a week to her super. This money comes out of her monthly pay cheque, and is organised by her employer, so she never actually sees it. When combined with her new investment strategy, it gives her a retirement balance of $490,000. That’s an additional $180,000 in her pocket, organised in just two steps.

  1. How you’ll spend it in retirement up to you.


Want to boost your super? Get started by visiting the Equip MyFuture Calculator and see how your future balance is looking.

*This example assumes CPI of 2.5%, wage inflation of 3.5% pa. Please see the Disclaimers and Assumptions on our calculator page for a complete list of assumptions.

This information is provided for general information only. It does not take into account your personal objectives, financial situation or needs and should therefore not be taken as personal advice. You should consider whether it is appropriate for you before acting on it and, if necessary, you should seek professional financial advice. Before making a decision to invest in the Equipsuper Superannuation Fund, you should read the relevant Equip Product Disclosure Statement (PDS). Past performance is not an indication of future performance. Issued by Equipsuper Pty Ltd ABN 64 006 964 049 AFSL 246383. MySuper Authorisation Numbers 33813823017672 and 33813823017518  (‘Equip’, ‘the Fund’ and ‘the Equip Rio Tinto Fund’).

Equipsuper Financial Planning Pty Ltd (“EFP”) (ABN 84 124 491 078, AFSL 455010) is licensed to provide financial planning services to retail and wholesale clients. EFP is owned by Equipsuper Financial Holdings Pty Ltd (ABN 11 604 515 791). You can obtain the EFP Financial Services Guide and/or Privacy Statement by contacting our Helpline 1800 682 626.

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