A Super Makeover
It is time to pull those old dusty super statements from your ‘everything’ file and give it a makeover. With recent changes in superannuation industry – such as the growing popularity of Self Managed Superannuation Funds (due to lower administration costs and the ability to buy property) and the introduction of My Super (a low cost simple super solution) there could be a better solution for you… to help give you that kick along to find those old funds or look deeper into your current one, here are three ways you can make super work harder for you now.
1. Use it to fund your personal insurances – Life Insurance and Income Protection, both critical in protecting you and your family can be funded directly from your super. This means you get the coverages, get to pay for it pre-tax and it doesn’t come from your cash flow.
2. Buy Direct Property – Struggling to get that deposit for your next property, or want to use your spare cash flow to pay down your loan. Use you super to get access to the property market.
3. Build a Share Portfolio – Do you want to buy shares but don’t want to risk your hard earned cash that you need for an upcoming property deposit? You can use your super to build a share portfolio – this can be domestic, international, blue chip or even speculative (be careful through!).
These are just three reasons why you should give you super the makeover it needs.