Superannuation
Providing a tailored superannuation strategy specific to your needs and goals
What is Superannuation and why is it so important?
Superannuation, or “super” is a long-term savings arrangement designed to help Australians achieve financial stability in retirement.
Employers are required to make regular contributions to their employees’ supers funds and employees can also make voluntary contributions.
Superannuation is a crucial part of retirement planning, ensuring individuals have sufficient funds to support themselves after they stop working. Contributions to superannuation funds often come with tax advantages, making it a tax-effective way to save for retirement.
At DreamWise we will assist by crafting a strategy tailored to your goals and risk profile, with ongoing support that includes performance monitoring, regular reviews, and necessary adjustments.
Types of Superannuation funds
Industry Funds - Typically run by employer associations or unions, these funds are not for profit and often have lower fees.
Retail Funds - Run by financial institutions, these funds are for profit and offer a wide range of investment options.
Self-Managed Super Funds - These are private super funds managed by individuals, offering greater control over investment choices but requiring more involvement and compliance with regulations.
Tools and Resources
Calculators: Use superannuation calculators to estimate retirement savings and plan contributions.
Educational Resources: Websites like the Australian Taxation Office (ATO) and MoneySmart provide extensive information on superannuation rules and strategies.
