The Biggest Mistakes People Make When Financial Planning Their Superannuation

July 1, 2022
July 1, 2022
All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]The Super Guarantee means employers must contribute a certain percentage of your OTE (Ordinary Time Earnings) to a registered super fund. That’s money that should be working for you, so it’s important to advocate for yourself and take control. What’s more, the Super Guarantee percentage is set to rise steadily over the next few years, so there’s never been a better time to start.

Investing Too Conservatively

No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]This is one of the most significant decisions you’ll ever make, and it’s important to ensure you’re planning correctly. With an average retirement age of around 55, it’s never too early (or late) to start saving. The Super Guarantee means employers must contribute a certain percentage of your OTE (Ordinary Time Earnings) to a registered super fund. That’s money that should be working for you, so it’s important to advocate for yourself and take control. What’s more, the Super Guarantee percentage is set to rise steadily over the next few years, so there’s never been a better time to start.

Investing Too Conservatively

No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]As you can imagine, the best financial planners on the Gold Coast are concerned about this lack of financial planning. It’s crucial to figure out what you’d like your future to look like, as well as how much money you can afford to save. This is one of the most significant decisions you’ll ever make, and it’s important to ensure you’re planning correctly. With an average retirement age of around 55, it’s never too early (or late) to start saving. The Super Guarantee means employers must contribute a certain percentage of your OTE (Ordinary Time Earnings) to a registered super fund. That’s money that should be working for you, so it’s important to advocate for yourself and take control. What’s more, the Super Guarantee percentage is set to rise steadily over the next few years, so there’s never been a better time to start.

Investing Too Conservatively

No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Not actually having a clear plan in place for retirement is one of the most common and costly mistakes that Australians make. According to the Australian Bureau of Statistics, around 30% of Australians don’t have any personal income when they retire. As you can imagine, the best financial planners on the Gold Coast are concerned about this lack of financial planning. It’s crucial to figure out what you’d like your future to look like, as well as how much money you can afford to save. This is one of the most significant decisions you’ll ever make, and it’s important to ensure you’re planning correctly. With an average retirement age of around 55, it’s never too early (or late) to start saving. The Super Guarantee means employers must contribute a certain percentage of your OTE (Ordinary Time Earnings) to a registered super fund. That’s money that should be working for you, so it’s important to advocate for yourself and take control. What’s more, the Super Guarantee percentage is set to rise steadily over the next few years, so there’s never been a better time to start.

Investing Too Conservatively

No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Not actually having a clear plan in place for retirement is one of the most common and costly mistakes that Australians make. According to the Australian Bureau of Statistics, around 30% of Australians don’t have any personal income when they retire. As you can imagine, the best financial planners on the Gold Coast are concerned about this lack of financial planning. It’s crucial to figure out what you’d like your future to look like, as well as how much money you can afford to save. This is one of the most significant decisions you’ll ever make, and it’s important to ensure you’re planning correctly. With an average retirement age of around 55, it’s never too early (or late) to start saving. The Super Guarantee means employers must contribute a certain percentage of your OTE (Ordinary Time Earnings) to a registered super fund. That’s money that should be working for you, so it’s important to advocate for yourself and take control. What’s more, the Super Guarantee percentage is set to rise steadily over the next few years, so there’s never been a better time to start.

Investing Too Conservatively

No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]With all that money flying around, you’ll want to make smart financial planning choices with your super money. Your choices might affect you for your entire life! So it’s essential to make the right financial decisions. If you’ve ever found yourself searching “financial advice for my super”, this article is for you. Keep reading for our list of the biggest mistakes people make when financial planning their super; it’s valuable whether you’re a beginner or not.

Not Having a Clear Plan

Not actually having a clear plan in place for retirement is one of the most common and costly mistakes that Australians make. According to the Australian Bureau of Statistics, around 30% of Australians don’t have any personal income when they retire. As you can imagine, the best financial planners on the Gold Coast are concerned about this lack of financial planning. It’s crucial to figure out what you’d like your future to look like, as well as how much money you can afford to save. This is one of the most significant decisions you’ll ever make, and it’s important to ensure you’re planning correctly. With an average retirement age of around 55, it’s never too early (or late) to start saving. The Super Guarantee means employers must contribute a certain percentage of your OTE (Ordinary Time Earnings) to a registered super fund. That’s money that should be working for you, so it’s important to advocate for yourself and take control. What’s more, the Super Guarantee percentage is set to rise steadily over the next few years, so there’s never been a better time to start.

Investing Too Conservatively

No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]Did you know Australian workers made $31.7 billion in superannuation contributions in the first quarter of 2022? With all that money flying around, you’ll want to make smart financial planning choices with your super money. Your choices might affect you for your entire life! So it’s essential to make the right financial decisions. If you’ve ever found yourself searching “financial advice for my super”, this article is for you. Keep reading for our list of the biggest mistakes people make when financial planning their super; it’s valuable whether you’re a beginner or not.

Not Having a Clear Plan

Not actually having a clear plan in place for retirement is one of the most common and costly mistakes that Australians make. According to the Australian Bureau of Statistics, around 30% of Australians don’t have any personal income when they retire. As you can imagine, the best financial planners on the Gold Coast are concerned about this lack of financial planning. It’s crucial to figure out what you’d like your future to look like, as well as how much money you can afford to save. This is one of the most significant decisions you’ll ever make, and it’s important to ensure you’re planning correctly. With an average retirement age of around 55, it’s never too early (or late) to start saving. The Super Guarantee means employers must contribute a certain percentage of your OTE (Ordinary Time Earnings) to a registered super fund. That’s money that should be working for you, so it’s important to advocate for yourself and take control. What’s more, the Super Guarantee percentage is set to rise steadily over the next few years, so there’s never been a better time to start.

Investing Too Conservatively

No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
Did you know Australian workers made $31.7 billion in superannuation contributions in the first quarter of 2022? With all that money flying around, you’ll want to make smart financial planning choices with your super money. Your choices might affect you for your entire life! So it’s essential to make the right financial decisions. If you’ve ever found yourself searching “financial advice for my super”, this article is for you. Keep reading for our list of the biggest mistakes people make when financial planning their super; it’s valuable whether you’re a beginner or not.

Not Having a Clear Plan

Not actually having a clear plan in place for retirement is one of the most common and costly mistakes that Australians make. According to the Australian Bureau of Statistics, around 30% of Australians don’t have any personal income when they retire. As you can imagine, the best financial planners on the Gold Coast are concerned about this lack of financial planning. It’s crucial to figure out what you’d like your future to look like, as well as how much money you can afford to save. This is one of the most significant decisions you’ll ever make, and it’s important to ensure you’re planning correctly. With an average retirement age of around 55, it’s never too early (or late) to start saving. The Super Guarantee means employers must contribute a certain percentage of your OTE (Ordinary Time Earnings) to a registered super fund. That’s money that should be working for you, so it’s important to advocate for yourself and take control. What’s more, the Super Guarantee percentage is set to rise steadily over the next few years, so there’s never been a better time to start.

Investing Too Conservatively

No, this doesn’t only mean investing in an aggressive portfolio, though that’s also a viable strategy if you get good Superannuation advice first. We tend to think of retirement as a goal that’s far away, and so we don’t invest as much or as often as we should. For example, one of the biggest traps people fall into is not increasing their super contributions after getting a pay increase. Not only does that effectively lower your percentage saved each month, but it also gives you a false sense of security for the future. In an ideal world, you should be able to put all of your salary increases towards your super contributions. After all, you already know that your current salary is enough. While this isn’t always realistic in every situation, it’s a good indicator of how you should be thinking of your retirement all the time. Don’t be afraid to use free superannuation advice to determine exactly how much you should be saving.

Not Choosing the Right Super

There are a few different types of Super that you should be aware of. They usually fall under retail, industry and self-managed. In the vast majority of cases, people will work with either retail or industry funds. When you’re thinking of investing or switching to a new super, you should have a good grasp of which fund you fall under. On that topic of choosing the right super, a prevalent mistake people make is not to choose at all. Most employers will have a default super that they work with. It’s important to realise that you don’t have to use your employer’s elected super and can have all your funds paid into the same account. This safeguards your money and investments if you change jobs and makes monitoring more manageable.

Not Knowing Your Financial Goals

What are your financial goals? Do you want to just “get by” when you hit retirement? Do you want to be comfortable? Or do you want to travel around the world, finishing those holidays you never managed to take before? Just as it’s vital to have a solid plan in place, it’s important to know what you’re aiming for. For some people, retirement is a quiet period where they can rest and relax, take up hobbies and meet up with friends. For others, it’s a chance to achieve some of the goals they missed when they were younger or couldn’t reach because of other commitments. Well, just like planning to buy your first property or car, you need to ensure you’re working towards the right goal. Financial advisers can help you develop a solid set of realistic goals you can work towards.

Paying Too Much in Fees

It’s critical that you’re aware of how much you’re paying for your investment. Considering that you’ll be paying these fees through to retirement, they can add up quickly. Though the promise of high yields is attractive, ensure you’re not paying an outrageous amount in fees to attain that. Choosing the wrong super and paying the wrong fees could mean losing thousands of dollars. It’s also important to scrutinise your super details carefully for hidden fees. If there’s anything you don’t understand or that seems out of the ordinary. Don’t be embarrassed to ask questions; this is a service you’re paying for.

Not Monitoring Your Super

Retirement savings is not a “set it and forget it” scenario. Just like any investment you make during the ordinary course of your life, you need to work at it and ensure that your money is working for you. You should, at minimum, know how well your investments performed in the last 12 months and, if you’ve had the super long enough, how well it’s performed in the previous 5, 10, or even 15 years. Depending on when you’re planning to retire, the long-term performance of your super should give you a good idea of whether you want to invest or not.

Losing Track of Your Super

According to the Australian Tax Office (ATO), it’s pretty standard for investors to know where and how their Superannuation is saved. This means that although you technically have the money, you have no idea how to get hold of it or ensure it’s still well invested. Besides keeping track of your investments, there is now a law requiring Super providers to pay leftover inactive balances over to the ATO. The ATO can then transfer this money back to you and into your active Super account. It’s relatively simple to contact the ATO and see if you can recover your lost super. The process is quick and easy as long as you’ve got all the required information.

Not Checking Your Insurance

Most funds offer insurance, which can be a handy tool when disaster strikes. However, not all insurance is created equal and not all companies cover the same situations. It’s vital that you find out from your super provider what type of insurance they offer, what governs it, and what the rules are. For example, there are often conditions attached to income protection insurance. Sometimes these are as simple as stating that the insurance is void if your balance drops below a certain threshold. That’s not necessarily something you’d think of if you decide to take some time off from contributing while you’re travelling or otherwise unable to invest. It’s straightforward and a good idea to contact your super provider and find out exactly what your insurance covers. You’ll likely find that the rules are simple, and if you keep them in mind, you’ll be covered throughout your investment with them.

Not Diversifying

We all know the adage, “Don’t keep your eggs in one basket.” And it holds true for investments as well. So, if possible, making sure your money is spread across many different assets is a great idea. This helps protect you from volatile markets or events that you couldn’t possibly have predicted. Take, for example, the COVID-19 pandemic. Stock markets and investments took a beating and have still not recovered. People with diverse investment portfolios lost out in some quarters but not nearly as much as those who had invested in previously “safe” financial entities that were hard hit by the pandemic. Again, you need to remember you’re paying for a service that impacts your future quality of life. It’s not a bad idea to ask about diversifying your investments, and any good financial planner will welcome the opportunity to help you grow your super.

Superannuation Can Be Simple

All of this might seem complicated and a little scary. The truth is, it can be – but only if you’re doing it alone. Superannuation investment can be as simple as getting in touch with the right financial adviser and starting the process. Consultations are free and will give you a good idea of what you need for your super. We offer a range of services that are catered to every possible customer. So, if you’re looking for the best gold coast financial planning, contact us today and we’ll set you up for success.
Can You Financially Prepare for a Recession?

Can You Financially Prepare for a Recession?

A probability model from Ned Davis Research indicates there is currently a 91.8% chance of a global recession. A recession can be a difficult time for anyone, and depending on your current situation, you might not be sure how you'd get through one. The best way to be...

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6 Essential Tips on How to Build Wealth in Your 30s

6 Essential Tips on How to Build Wealth in Your 30s

The net worth of the average Australian in 2022 is just over a million dollars. So how do you measure up? Are you on track to build a healthy portfolio of assets now you're in your 30s?  The reality is that most of us could be doing more with our money, whatever...

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6 Benefits of Getting a Financial Assessment

6 Benefits of Getting a Financial Assessment

Are you looking to grow your wealth and become financially secure? When it comes to managing your finances, things can feel a little overwhelming. Many people don't bother, and that's a real shame. Getting a financial assessment done is the first step in knowing where...

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How to Create A Personal Financial Plan

How to Create A Personal Financial Plan

Millions of Australians retire each year, many of whom have strong financial blankets underneath them as they leave the workforce. Knowing how to conduct personal financial planning is a crucial part of this process. But how do you create personal financial freedom?...

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Superannuation: Mistakes Your Employer Could Be Making

Superannuation: Mistakes Your Employer Could Be Making

Superannuations are super for good reason! Australians have more than $3.1 trillion in their super accounts. Your super account can create a comfortable retirement. But you can't just put money in your account and forget about it. You need to work with your employer...

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Superannuation Advice for Beginners

Superannuation Advice for Beginners

In Australia, there are 24.4 million superannuation accounts but 38% of Australians don't know how superannuation works. With a total of 84 fund providers, it can be difficult to understand super accounts. Simply learning the basics of superannuation can help you...

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Free Superannuation Advice for 2024

Free Superannuation Advice for 2024

COVID-19 has given everyone a bit of a shake-up when it comes to financial planning. It's made a lot of people reconsider their options and what they want from their life. This is supported by the required financial planning needed to achieve their retirement dreams....

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How to Build Wealth in Your 40s: The Ultimate Guide

How to Build Wealth in Your 40s: The Ultimate Guide

Are you in Australia and are looking to build wealth in your 40s? You can implement plenty of superannuation advice to help you financially during this crucial year of your life. For most people, turning 40 is a critical inflection point personally and professionally....

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Where Is the Best Place to Get Superannuation Advice?

Where Is the Best Place to Get Superannuation Advice?

An Australian couple will need an estimated $63,799 a year for a comfortable retirement. If you're single, you'll need at least $45,239. Is your superannuation giving you the results you need for a comfortable retirement? Would you like to be getting better returns?...

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The Best Financial Advice for Financial Stability

The Best Financial Advice for Financial Stability

Are you looking to achieve financial stability? Many people seek the best financial advice so that they can get their finances in order and achieve stability. Financial planning is not always easy, particularly in turbulent times like these, but there are a few pieces...

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