I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

How To Make Your First Superannuation Fund Matter

Relationships between you and your superannuation fund contributions can last longer than many marital relationships. The question now is how do you make your first superfund matter?

A lot of Australians simply join the default option of their employers, however there is a great opportunity offered for them as well as their parents so they could make early smart choices.

A profession of 40, 50 or 60 years, according to Erin Coyle, senior financial adviser at Dixon Advisory, says that an employer's superannuation guarantee could be worth at least half a million dollars so it is best that you focus on it. Sadly, however, most individuals often see superannuation as the last thing on their minds when starting a job, says Coyle. Superannuation is a person's savings just as is money in the bank. The most important difference is that there are many guidelines to stop you from spending it however until later in life.

When your balance is small, you most surely won't need a superannuation fund that has all the extra add-ons. But, it is still really up to you where it should be invested. The best advice is to go for development early - many advisers suggest that people invest about 100 percent in development assets, like shares and homes until their 40s or their 50s.

If you don't really need a financial adviser watching your superannuation fund on a yearly basis, then there is no point paying for it according to Coyle. An adult child's first superfund could be their parent's self-managed fund that can hold up to around 4 members. You just have to make sure that it is the best place to relocate it.

According to Coyle, people ask this concern almost every week. From the point of view of an individual, signing up with a parent's self-managed superfund is an intelligent way of taking advantage of low charge plans.

Despite of this, you should still make sure that the investments show both of the requirements to children and parents. Gianni La Scala of Optimum Wealth Advisers says that parents should be able to help their kids manage superannuation by switching tasks and combining funds so charges will be minimized.

It is easy to find support for superannuation funds from websites such as www.australiansuperfinder.com.au.

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