Services

Superannuation

If you’re working, chances are that you currently have a Superannuation account, or more than one if you’ve changed jobs a few times without consolidating under one supplier. However, not many people understand why they have one or what it does.

While retirement might not be on the horizon yet, putting money into your superannuation now is a tax effective way to invest your money. This is because most super contributions – and the investment earnings on those contributions – are taxed at concessional rates with the added benefit of compounding returns.

In other words, the deposits made into your super are taxed at a lower rate than normal but with the added advantage of generating earnings on your earnings. Simply put – super is a really smart way to save.

So given this, why do so many people neglect it? Even though it’s often the second largest investment outside the family home, most people just tick a box when it comes super.

At Coastline, our goal is to show you the relationship between ‘superannuation’ and ‘investing’. The two go hand in hand; and, like any other relationship, super and your investment to it, needs attention.

Just by taking charge of your super and getting the right investment mix could be the difference for an early retirement or extended working life.

Why do super investment options matter?

Surprising to some, like any other investment, you have choices when it comes to your super. You can invest your money in different asset classes depending on your attitude to risk and how long you’ve got until retirement. It’s your money and you have the right to choose how it’s capitalised.

It’s also important that you understand your investment options to find what works best for you. Coastline can show you different ways to grow your super by reconsidering the way it’s invested for long-term financial gain.

Coastline’s Super Advice

We always start by looking at the bigger picture to identify a range of factors that will determine the right investment mix for your super, and help you answer some of the tricky questions such as:

  • When should I start contributing?
  • Should I salary sacrifice?
  • Are there benefits if I contribute for my spouse?
  • Are there benefits in consolidating my super funds?
  • How can I check whether I have any lost super?
  • When should I think about topping up my superannuation?
  • Can I take advantage of the Government’s co-contributions?

Based on your goals and circumstance, we’re also more than happy to:

  • Review the performance of your current super fund including how close you are to retirement
  • Make recommendations about your super arrangements
  • Recommend alternative fund providers and superannuation products
  • Review any insurance opportunities including buying insurance through your superannuation fund

Self-Managed Super Funds (SMSFs)

Self-managed superannuation funds (SMSFs), also known as DIY super funds, are popular with Australians who wish to take on the responsibility and control of managing their retirement savings.

SMSFs work the same way as other funds, in that contributions are invested and become available to members on retirement. With SMSFs, however, the members are also the trustees – this puts them in control over the investment of their contributions and the payment of their benefits.

It is important to note that while SMSFs are an attractive way to manage your super, seeking the relevant advice from a credible resource is critical. Having the autonomous power over your finances may feel like the right choice but there is the risk that it may cost you more in the long term.

Our Coastline Advisers are always available for a free chat about your superannuation so don’t hesitate to  get in Contact if you want to learn more.

Take charge of your future and get your super sorted today.

Helpful tools

Are you on track for retirement?

See if you’re on track for retirement with our Super Simulator.

Do you need to consolidate your super?

If you’ve had more than one job, you probably have more than one super account. Over the years you may have lost track of some of them. Bringing your super together into one account (commonly known as consolidating) could save you money and get your super savings back on track.

A simple consolidation service will help you round up lost super.