In this episode we go even more into superannuation and explain different ways it can help you - help you to build wealth and prepare you financially for your retirement. 

Many people truly do not understand what super is and how it works and why it is important

In Australia it is compulsory for all employers to contribute super for all employees - from 1 July 2023 the amount is 11 % of your salary or wage

Jacqui and Ingrid talk about a few key steps to ensuring you make the most of your superannuation 

One of the most important actions to take from this podcast episode - make sure you have only 1 super fund. 

It is very easy for people in Australia  to have multiple super funds and this happens for a few different reasons - multiple jobs, moving or changing jobs and/ or old funds from jobs a long time ago

Jacqui and Ingrid talk about the importance of putting a Binding Death Nomination into place - to make sure that your superannuation monies are paid into your estate 

Ingrid and Jacqui answer 2 listener questions:

I am a 56 year old woman nearing retirement and want to save more. I have put together a budget that I am going to try and stick to. This shows I will have a small surplus of around $200 every month. How can I make sure I don’t fritter this away? 

and 

Carol (aged 63 and retired) has a son who wants a loan to help pay the legal fees for his divorce. She asks “How can I make sure he pays me back as I don’t have a lot of savings?”

We share a couple of listener tips for not spending money

 

If you have any questions or suggestions please email us at:

[email protected]

 

We need to make it clear that we do NOT provide specific financial advice on this show, it is just general advice and discussion. If you want advice specific to your situation you need to go and see a financial adviser or financial professional.