Superannuation

Superannuation is an investment vehicle designed to assist Australians save for retirement. While topping up your super is important, you also need to ensure that your super is invested appropriately. Most super funds offer a range of investment options and you may need to consolidate your super. The right investment option for you will depend on your retirement goals, your investment timeframe, and your tolerance for risk. So it’s worth discussing your options with a financial adviser. Sheridan & Associates has years of experience in this area, so why not get in touch today?

You can contribute to superannuation in the following circumstances:

• If you are under age 65 you may contribute to superannuation on your own behalf.
• If your spouse is under 65 years of age you may contribute to superannuation on behalf of your spouse.
• If you are 65-69 years of age you may contribute to superannuation if you have worked for at least 40 hours in 30 consecutive days in the current financial year. Your spouse may contribute on your behalf if you meet these criteria.
• If you are 70-74 years of age, you may contribute to superannuation if you have worked for at least 40 hours in 30 consecutive days in the current financial year.
• If you are under 75 your employer may also be required to or may choose to contribute to superannuation on your behalf

Our strong focus on superannuation and investment advice ensures we can provide you with the right superannuation and investment products to suit your needs.

How much is enough to retire?

According to the March 2012 Westpac ASFA Retirement Standard, a couple needs at least $31,643 per annum (p.a.) in order to maintain a ‘modest’ retirement while a single person needs at least $21,946 p.a. By contrast, for a couple to maintain a ‘comfortable’ retirement, they need at least $55,080 p.a. while a single person needs at least $40,297 p.a. It’s worth noting, too, that these figures do not include the cost of renting a home or paying a mortgage.

See more

For more information on Superannuation contact us.