Why Review Your Super?
Have you ever thought about how superannuation fund fees will effect your retirement savings over your lifetime? The difference between a low fee and a high fee super fund can be the difference between retiring comfortably and relying on the age pension. If invested in a high fee super fund, the average Australian would be over $230,000 worse off by the time they retire! These fees are taken out of your fund and can therefore have a detrimental impact on your retirement savings. Review My Super can make sure you’re in a low fee fund.
This graph shows the effect fees have on the typical balance of an individual earning the average income and invested in the average performing superannuation fund over a 40-year period. Here, you can see the difference between a fund with low fees (0.5%), moderate fees (1.5%) and high fees (2.5%).
This graph compares the balance of an individual earning the average income if invested in a low, medium or high performing fund. Here, you can see the difference between investing in an average performing (6.5%), a low performing (4.5%) or a high performing (8.5%) super fund, with moderate fees (1.5%), over a 40-year period.
Just like low fees, having a strong performing super fund is critical to achieving a self-funded retirement. Unfortunately, there is a massive variance in the performance of superannuation funds. Therefore, relying on the super fund that your employer set you up with is in all likelihood going to leave you shortchanged at retirement. See the graph for a comparison of the average income earner’s super fund invested from age 25 to 65 in a low, average and high performing superannuation fund. See the best super funds by performance.
Do you understand the insurance inside your Super? Review My Super can help you. These are the key things to be aware of:
Who We Are
We are an enthusiatic team of Superannuation experts & qualified financial advisors. Our team is passionate about boosting the retirement savings of our clients through advice on their Super. We utilize the most credible industry research to match our clients with the best super fund, investment choices and insurance options. Best of all, we are not owned by a super fund or a bank. We can provide research and advice on every fund in Australia!
Review Your Super Today
It’s as simple as filling out the reviewmysuper.com.au contact form or giving us a call to speak to an advisor. Alternatively you can go at your own pace with our automated Digital Advice. You can read more about the different types of Financial Advice here.