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159. Choosing The Right Superfund
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Welcome back to another episode of the 360 Money Matters Podcast!
In this episode, we discuss the importance of paying attention to superannuation, as 12% of an employee's income is allocated to it. We explain that superannuation is a tax-effective trust structure designed to help grow wealth for retirement. Also, we explore various types of superannuation funds—industry, retail, wrap platforms, and self-managed super funds (SMSFs)—highlighting their differences in investment options, insurance, and complexity. Furthermore we emphasize the need to review your super fund as life circumstances change and advise seeking professional guidance due to the complexity and long-term impact of these decisions.
Tune in to this episode now to learn how to make informed decisions about your super fund and ensure you're on the right path for retirement. Click to listen and take control of your super today!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights
Importance of superannuation
Preservation rules keep money locked until retirement
Four main categories of superannuation funds in Australia
Importance of comparing funds on the same basis
Importance of making the right choice early in one's career
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