There are about 14.8 million Aussies with a superannuation account, 40% of which hold more than one account.
Some of that 40% make up the $18 billion in ‘lost super’. Is some of that yours?
Moved home? Changed your job? Don’t quite remember where your teenage self stashed your super? It’s really pretty easy to track it down.
Save on fees, reduce your paperwork, keep track of your hard earned money, grow your retirement fund. But maybe get advice first! If your health has changed and getting new insurance is problematic, it may be worth keeping more than one account open.
Many websites and super funds offer to help find and combine your super. It is quick, easy and free. You can check with your known superannuation provider/s, your MyGov site or the Australian Tax Office.
A qualified financial adviser can help you find an appropriate superannuation fund that will grow your hard-earned income ready for your retirement – and the sooner you get on top of this, the better!
Fees are just part of the story, do you also know how your fund has performed? Are you able to choose your own insurance levels? Or opt-out of insurance if not required? Do you know your investment risk profile and which style of investing is best for you?
Truth is, most of us get excited when we find $20 in a pocket or an old handbag… your superannuation is likely worth thousands, and it is YOUR money! Take care of it!