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

Simple Super Facts

Super is based on the idea that by saving small amounts of money into a fund with compounding returns over time, your accumulation will yield more money when your retire.

Super Funds are Invested in Different Ways

These funds are invested in different ways depending on your super product. Investment is preserved, which means that you cannot access it until you meet a particular condition. In most cases, this is awkward.

For young people, super may not be directly set on their radar. Mainly because growing old and retiring seems so far away. But you will see that a critical aspect of building your super is making your contributions early in your working life.

For example, Marlie is 20 and has just landed on her first job. She decides to invest a $100 per month in her super. By the time she is 60, Malie would have made $48,000 in her personal contributions. And with compounding returns, her investment would have more than quadrupled by the time she retires.

But how important are compounding returns?

Let's take a look at Nate. He is 40 and has just re-entered the workforce. As Nate is 20 years closer to retirement, she decides to invest 200 dollars per month. By the time he reaches 60, he would have contributed the same as Marlie. But because he is 15 years less in compounding interest, her investment in only valued at $92,408. That's over a hundred thousand dollars less than Marlie at the same age.

At the end of the day, super isn't just an investment. Besides providing you with a nest egg for your retirement, some Super funds will also offer other benefits. But how do you know if your super fund is working for you?

If you have questions about superannuation, why not speak with a financial planner? They can take you through your options and point you in the right direction to secure your financial future and achieving your goals. You can find such adviser at www.australiansuperfinder.com.au. Call them at 1300 252 167

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