5 Step Super Health Check
Ensuring the health of your superannuation is paramount for securing your financial future. Just like an annual physical examination, conducting a regular "Super Health Check" can help you optimise your retirement savings and protect your financial well-being.By following these five simple steps, you can take control of your superannuation and ensure it aligns with your goals and circumstances.
1. Check… that your Super is consolidatedMultiple accounts mean multiple fees, eating into your retirement savings. Use the ATO's online services to track down lost super and consolidate your accounts easily.Important Note – Make sure to check your insurance status before completing any consolidation!
2. Check… how you are investedYour super's investment strategy should match your risk tolerance and retirement goals. Are you too conservative? Or too aggressive?Review your investment options. Adjusting your investment mix can significantly impact your super's growth over time.For a detailed explanation about your super and retirement investment options and how your choices can affect your retirement, you can access our on-demand webinar here.
3. Check… what insurance you haveMost super funds offer life, total and permanent disability, and income protection insurance. Review your insurance needs to ensure you're adequately covered without eroding your super balance unnecessarily.
4. Check… to make sure you have a beneficiary nominationSuper isn't automatically covered by your Will, so nominate your beneficiaries to ensure your super goes to your loved ones as intended.
5. Check… your details to make sure they’re up to dateThis will ensure you’re kept up to date with important information from your super fund.Being proactive about monitoring and managing your superannuation is essential for securing your financial future. By taking the necessary steps to optimise your retirement savings, you can significantly enhance your financial security.
Don't delay; start your Super Health Check today! For any advice or assistance on completing these basics, or planning ahead to ensure your super delivers what you need in retirement, contact us here at AGS Financial Group today.