PJT Accountants

Your Super Life Uncovered!

12 June 08 PJT

We asked our Senior Accountants what you should be doing with your Superannuation at each stage in your life. It is important people formulate appropriate wealth strategies to different financial stages of life.

 

Early Career (20's)

Retirement seems a lifetime away, give your Super a kick start by considering the following:

  • Appropriate investment options; high growth mix of investments,
  • Personal savings plan - invest monthly,
  • Consider more aggresive wealth building strategies like gearing or borrowing to invest.

 

Home Owner (30's)

You will have built a reasonable super balance, however you should consider:

  • Reassesing your investment mix within your fund,
  • Self Employed should consider making a Super contribution,
  • Home owners should make it a priority to reduce their mortgage - cash flow planning and budget are essential,
  • Personal Insurances.

 

Wealth Builder (40's)

Once home mortgage payments have been reduced to a comfortable level, the following should be considered:

  • Increase Super contributions
  • Monthly savings invested in a personal portfolio that can be accessed at all times.
  • Often other lifestyle goals are top of mind rather than retirement, ensure you can continue to experience the joys of life also.

 

Retirement Planner (50's)

Super should be an major focus for people once they reach 50, as serious planning for your retirement is now needed. Salary sacrificing and contributions are strategies to build on your super.

 

Retiree (60's and beyond)

  • Continue to eliminate your debt
  • Reassess your investment mix
  • Once in retirement, this money may be paid to you as a tax free pension.

 

Want to know more about planning for your future? Here at PJT, we not only have the knowledge and expertise of our Accountants and hand we also have an in house Financial Planner at your fingertips. Contact PJT to discuss your lifestyle goals today on 07 5413 9300.

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