Talk super this International Women's Day

Talk super this International Women’s Day

Statistically, women are more likely to retire with less – but there are ways that you can close the gap.

Kellie George
Kellie George 09 Mar 2021 ・ 2 min read

When it comes to retirement savings, women are likely to retire with significantly less in their superannuation funds than their male counterparts.

However, there are simple ways to boost super savings that you might want to consider.

Make regular contributions

While your employer is required to contribute to your super on your behalf, it’s a good idea to start making regular contributions of your own.

Thanks to compounding interest, the earlier you start, the more you save – and even a modest monthly contribution can have a powerful impact on your long-term savings.

If you’re self-employed, you don’t have to pay yourself super, but it’s still important to think about your financial future. And you might even be eligible for a government co-contribution.

Consolidate your accounts

If you have switched jobs over the years, you may have ended up with multiple super accounts, which means you could be paying more in fees.

By consolidating your super into one account, you can reduce your fees and potentially increase the amount of interest you earn.

Leverage your self-managed fund

If you have a self-managed super fund (SMSF), you may be able to leverage the power of your super with an SMSF loan.

An SMSF loan is not limited to the size of your super and can help you build your portfolio when investing in residential or commercial property.

To find out more about SMSF loans, contact aLiberty Adviser today.

Kellie George
Kellie George Author
Kellie George is a financial writer with more than eight years’ experience. As a former small business owner, she understands the challenges that self-employed borrowers face when securing finance. Kellie is currently renovating her own home and has a passion for interiors, design and all things DIY.