So you’ve done some analysis of your super and it falls short of what you estimate needing in retirement.

Don’t give up just yet as there things you can do about this situation…

Contribute more to super NOW

The sooner it is in your super account, the sooner it can be earning for you

pile of coins with a seedling growing out the top

Reduce your costs

This may have a small impact but it helps over time. Make sure you assess your super accounts – can you consolidate multiple accounts? are you paying reasonable fees for the services you are getting?

Delay retirement

Even another year or two can boost your savings for a long and happy retirement

Don’t fully retire

Part time work or even seasonal full time work can cover living expenses and/or boost your savings, reducing the amount of super you need to have a comfortable retirement

Reassess your retirement expectations

If you reduce your costs a little, the total will last longer. Maybe that means one overseas trip a year instead of two, buying $20 bottle of wine instead of $30 bottles, replacing your car every 7 years instead of every 3 to 5 years, or spoiling the grandkids with activities rather than gifts.

 

This information is of a general nature only and does not take into account your personal objectives, situation or needs. Before making a decision about AvSuper, you should consider your own requirements and the relevant Product Disclosure Statement (PDS). For a copy call us or visit the AvSuper website, www.avsuper.com.au. AvSuper Pty Ltd (ABN 46 050 431 797, AFSL 239078) is the Trustee of the AvSuper Fund (ABN 84 421 446 069). Printed 18 August 2019.