Consistent with most developed nations, Australia provides incentives for people to save for their retirement. Being self-sufficient in retirement reduces the need for Age pensions and other forms of Social Security. 

But saving for your retirement means sacrificing the here and now. Money socked away for your 70s and 80s, is money that you can't enjoy in your 20s and 30s. The opportunity cost is real, so the incentives need to be meaningful. 

Fortunately our superannuation system does indeed provide meaningful incentives in the form of tax concessions. There are tax concessions throughout the entire life of your superannuation journey. But I find that sometimes the biggest tax concession of all is overlooked or underappreciated. This week I want to ensure that you understand exactly where the greatest opportunity exists so that you are making the most of the superannuation tax concessions. 

 

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