How Self-Managed Super Could Save You A Decade Working & $10,000s

If you're thinking super is a 'later on' thing, you're likely missing out on some huge financial benefits. Whether you want to reduce your work hours, retire earlier or have more money to live on later in life - setting up your super correctly could be a small decision now, that improves your life dramatically for years to come.

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Superannuation Explained, Simply.

Your superannuation guarantee is a compulsory set of savings arrangements that have been set up by the Australian government. The goal of super is to have a range of investments that can help grow your balance and provide a financial 'fund' for your retirement. This means that when it comes to retiring and enjoying your golden years, you have built yourself a comfortable nest egg to live off of when you’re no longer earning a wage.

For most people, super begins the moment their careers do where employers start allocating industry super funds on their behalf. Your contributions are then invested in various shares, properties, and managed funds. With all that there is to consider, it’s best to work with a financial advisor that can help you understand your super and what you are entitled to. A company like ours can help you keep growing these funds and assist in seeing you through to a well-looked after future.

Understanding Your Super Rate

There are a few ways for super contributions to be made. Typically, the most common are employer, personal, and government contributions. Currently, Australia’s super rate is at 9.5% with a forecast to increase to 12% by 2025. Each year, these rates increase and if your employer fails to pay the correct rate, they can face serious levies.

A superannuation calculator can be a great way to calculate your long-term expected balance. If you’re self-employed, you have the freedom to allocate the amount of your income for your super fund. You can also add extra money into your account should you wish to contribute more than your employer. Of course, the more you contribute, the better the growth of your super fund will be.

Would A Self-Managed Super Fund Be Your Best Option?

Get Your Free, No-Obligation Self-Managed Super Assessment - Returned within 4 hours.

Choosing The Right Fund Type

Most people are able to choose a fund that they’d like their contributions to be paid into. However, there are circumstances where funds are specified by your employer. Whatever the case may be, working with a trusted consultant who can guide you through the process is key. Understanding which policy is best for you and your future can make a huge difference down the line. With this in mind, here are the types of funds available in Australia:

  • MySuper
  • Retail funds
  • Industry funds
  • Public sector funds
  • Corporate funds
  • Eligible rollover funds
  • Self-managed super funds (SMSF)

Our asset base has grown significantly which will help us build wealth. Simone and I have no hesitation in recommending all the staff at Chase Edwards. In December 2009, my wife Simone and I met with Chase Edwards. In just over 21 months, Simone and I have gone from having our own home, to having our own home and two investment properties completed and rented out, along with a third investment well on the way to being completed and rented out. With this my tax bracket has been reduced from over 40% to 25%, helping us reduce our debt on a weekly basis as well as giving us a great mortgage reduction plan. Also our asset base has grown significantly which will help us build wealth. Simone and I have no hesitation in recommending all the staff at Chase Edwards, and on a personal level, we’d like to thank the team at Chase Edwards for their guidance and assistance during our journey so far.

Dean Robertson

Thank you Chase Edwards for helping me secure my financial future...my mortgage is now reducing...I have saved tax and the process was very easy..The professional staff were fantastic...highly recommend that people should seriously make the appointment for the consultant to come to your house..it will be the best thing you can do for yourself Jo.

Joanna Lody

Wow!! If I didn’t answer my phone I wouldn’t have been able to buy my dream car, the telemarketer was patient with me and I went ahead with appointment and yes, the consultant found tax savings for my partner and me that my accountant and financial advisor didn’t!!! Was a bit surprised because I pay for my advise and chase Edwards appointment was free!,, I am impressed!!!!! Thank you. Always a pleasure when thinking about my savings because I love saving money!!!!!

Sara Drake

Accessing Your Super

Thinking of early retirement? Unfortunately, Australia does put restrictions on when super can be accessed. To withdraw your super, you have to be of preservation age which varies based on the year you were born. If you were born before 1 July 1960, you can withdraw these funds at 55. With ever year from 1960 to 1964, this age increases by 1. In other words, if you were born after 1 July 1964, this is only possible at 60.

To decide which strategy is best for your needs, working with our team of trusted professionals can help you anticipate your retirement needs based on the longevity and success of your superannuation. With us by your side, you can enjoy the perks of your golden years worry-free.

Superannuation Australia - How Is It Different?

When comparing superannuation Australia to the rest of the world, there are some key factors that are notably different. It’s common for retirement funding policies to vary from country to country with alternative pension systems in place. For example, European countries mainly rely on the government for their primary source of pension savings. In America, on the other hand, personal savings are the largest form of retirement income with private pension plans, and government benefits playing a role too.

However, in Australia, retirement income is mostly funded through a well-balanced mixture of personal savings, government pensions, and supers.

Would A Self-Managed Super Fund Be Your Best Option?

Get Your Free, No-Obligation Self-Managed Super Assessment - Returned within 4 hours.

The Benefits Of Properly Managed Super

Unfortunately, in Australia, superannuation is something most people only think about closer to retirement. We say unfortunately, as there are many key benefits to structuring your superannuation correctly - that could shave years off your retirement age. Potential benefits include: 

  • Higher returns (that compound over your entire working career!)
  • Lower fees
  • Greater control over how your money is invested
  • Correct insurance
  • Tax deductions

Get Expert Advice On Your Superannuation

Regardless of where you are in your working career, your superannuation is something you can setup now - that will reward you for years to come. Here at Chase Edwards, we have over 10 years experience helping everyday Australians' get more out of their super.

We can assess your current situation, provide you options and give you a custom-tailored recommendation on the best path forward. To get advice, ask questions or book your free 60-minute consultation, simply enter your details through the link below.

Find Out If An SMSF Is Right For You

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