FINANCIAL AWARENESS

Why do most people fail to optimise their super?

It is generally due to a lack of financial awareness that arguably pervades the overall management of their money.

Common financial mistakes most people make are:

  • Not having a budget or strategic plan.
  • Lacking knowledge on how to create wealth.
  • Making uninformed decisions.
  • Ignoring super and underachieving its potential by around 20%.

Making mistakes in life is inevitable, but the key is to learn from them and adapt sooner rather than later.

INFORMED DECISIONS

You are now in the second half of your career and have most likely accumulated a reasonable, if not a surprising, super balance. 

Your first initiative would be to consider how you arrived at your current super balance (by accident or design). 

Have you managed your super as a personal asset and made excellent decisions based on reliable and insightful data, or maybe you do not know? 

Perhaps you have endured periods of financial stress when your net income did not cover your outgoing expenditure.

Optimising super requires informed decisions, made regularly, across four key areas:

  • Product Choice
  • Insurance Cover
  • Contribution Amounts (including salary sacrifice)
  • Investment Strategy (consistent with future market dynamics)

Two things that determine your level of success in life are:

  • Seizing opportunities.
  • Avoiding common mistakes.

Have you made the most of your opportunities and minimised financial mistakes over the past 20 years?

HELP IS AVAILABLE

Your employer has engaged SuperWiser to offer services to help you better manage your finances and super as a wealth-creation asset.

Call 1800 467 467 to book your appointment.

This document was prepared and issued by Super Simpler Pty Ltd (ABN 74 150 240 421) a privately-owned company operating as a Corporate Authorised Representative (CAR No. 468 201) of AXIS Financial Group Pty Ltd (ABN 21 092 889 579, AFSL 233 680). The information contained within it is not advice. It provides general information only and does not take into account your individual objectives, financial situation or needs. You should assess whether the information is appropriate for you and consider talking with your financial adviser before making an investment decision. Information in this publication, which is taken from sources other than Super Simpler, is believed to be accurate. However, subject to any contrary provision in any applicable law, neither Super Simpler, nor its employees and directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it.