{"id":1474,"date":"2019-02-13T19:28:00","date_gmt":"2019-02-13T08:28:00","guid":{"rendered":"http:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/2019\/02\/13\/four-tips-for-boosting-your-super-balance\/"},"modified":"2019-02-13T19:28:00","modified_gmt":"2019-02-13T08:28:00","slug":"four-tips-for-boosting-your-super-balance","status":"publish","type":"post","link":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/2019\/02\/13\/four-tips-for-boosting-your-super-balance\/","title":{"rendered":"Four tips for boosting your super balance"},"content":{"rendered":"<div>\u00a0If you could add $61,000 to your super fund in 10 years, would you do it?<\/div>\n<div>\n<p>Of course you would, however by choosing, or defaulting into, funds that underperform and charge high fees, you may be leaving money like that on the table.<\/p>\n<p>Super is the biggest investment most Australians will ever make, yet too many unknowingly behave as if they are starring in the TV show, \u201cMarried at First Sight.\u201d They commit to something they haven\u2019t gotten to know or understand.<\/p>\n<p>It can be a very expensive error. The recent Productivity Commission estimated that super investors would gain $3.9 billion yearly by choosing better-performing funds and reducing fees by consolidating accounts. That would give a 55-year-old today an additional $61,000 by retirement, and a new job entrant an additional $407,000 when they retire in 2064.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"\" height=\"301\" src=\"http:\/\/internal.clientcommunity.com.au\/uploaded\/level\/2063\/vanguard-13feb-super.jpg\" width=\"571\" \/><\/p>\n<p>Here\u2019s a few ideas on how to send some of that money your way:<\/p>\n<ul>\n<li>\n<p>Match your investment option to your goals. If you\u2019re young and have many years until retirement, a growth fund may make sense for you. On the other hand, your age may not matter if you have difficulty watching wild market swings. In that case, you may prefer a more conservative option.<\/p>\n<\/li>\n<li>\n<p>Once you know how you want to invest, compare the long-term performance (five years or more) of funds in that category. Compare growth funds to growth funds, balanced funds to balanced funds, etc, and be aware of differences between funds in the same investment category. Some funds labeled \u201cgrowth\u201d may have higher allocations to growth assets such as shares and property, compared to another super funds \u201cgrowth\u201d option, for example. What is important, however, is that you select an asset allocation that matches your financial goals and risk tolerance.<\/p>\n<\/li>\n<li>\n<p>If you have more than one super fund, consolidate them to eliminate redundant and high fees. This is actually a very easy and profitable move. In most cases, the super fund you decide to consolidate to will have a \u2018find my super\u2019 option, and will do all the hard work for you. If you need to know more, the Australian Securities &amp; Investments Commission (ASIC)\u00a0<a href=\"https:\/\/www.moneysmart.gov.au\/superannuation-and-retirement\/keeping-track-and-lost-super\/consolidating-super-funds\" target=\"_blank\">shows you how here.<\/a>Be sure to review how switching your super affects any insurance you have with it.<\/p>\n<\/li>\n<li>\n<p>As we all know from watching the daily gyrations of the share market, you can\u2019t control everything. But you can control your costs, and that will make a huge difference to your super fund over time. According to Canstar, the average cost on an $80,000 super balance ranges from $466 to more than $2,000 &#8211;\u00a0<em>a year.<\/em>\u00a0While you cannot control future performance, you can control costs.\u00a0<a href=\"https:\/\/www.moneysmart.gov.au\/tools-and-resources\/calculators-and-apps\/superannuation-calculator\" target=\"_blank\">This ASIC calculator helps you compare funds<\/a>, including fees.<\/p>\n<\/li>\n<\/ul>\n<p>Finally, don\u2019t make yourself crazy. Constant tinkering is more likely to hurt than help, but do get to know your super and increase your odds of a decades-long blissful union.<\/p>\n<p>Please contact us on |PHONE| if you seek further assistance on this topic.<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-size: 10px\"><a href=\"https:\/\/www.vanguardinvestments.com.au\/retail\/ret\/articles\/insights\/research-commentary\/retirement-and-superannuation\/four-tips-boosting-your-super-balance.jsp\" target=\"_blank\">Source : Vanguard January 2019\u00a0<\/a><\/span><\/p>\n<p><span style=\"font-size: 10px\">By Robin Bowerman, Head of Corporate Affairs at Vanguard<\/span><\/p>\n<p><span style=\"font-size: 10px\">Reproduced with permission of Vanguard Investments Australia Ltd<\/span><\/p>\n<p><span style=\"font-size: 10px\">Vanguard Investments Australia Ltd (ABN 72 072 881 086 \/ AFS Licence 227263) is the product issuer. We have not taken yours and your clients&#8217; circumstances into account when preparing this material so it may not be applicable to the particular situation you are considering. You should consider your circumstances and our Product Disclosure Statement (PDS) or Prospectus before making any investment decision. You can access our\u00a0PDS\u00a0or\u00a0Prospectus\u00a0online or by calling us. This material was prepared in good faith and we accept no liability for any errors or omissions. Past performance is not an indication of future performance.<\/span><\/p>\n<p><span style=\"font-size: 10px\">\u00a9 2019 Vanguard Investments Australia Ltd. All rights reserved. <\/span><\/p>\n<p><span style=\"font-size: 10px\">Important:<\/span><br \/><span style=\"font-size: 10px\">Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business, nor our Licensee take any responsibility for any action or any service provided by the author.<\/span><\/p>\n<p><span style=\"font-size: 10px\">Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents\/information contained within the linked site(s) accessible from this page. <\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0If you could add $61,000 to your super fund in 10 years, would you do it? Of course you would, however by choosing, or defaulting into, funds that underperform and charge high fees, you may be leaving money like that on the table. Super is the biggest investment most Australians will ever make, yet too [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[19],"tags":[],"class_list":["post-1474","post","type-post","status-publish","format-standard","category-general-articles","entry"],"_links":{"self":[{"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/posts\/1474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/comments?post=1474"}],"version-history":[{"count":0,"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/posts\/1474\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/media?parent=1474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/categories?post=1474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gpadviser.com.au\/gpl-theme-1-2015\/wp-json\/wp\/v2\/tags?post=1474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}