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

Sorting Out Your Super in 5 Simple Actions

Most of us understand that our super is important - or will be when we talk about retirement. However study from the Australian Stocks and Investments Commission (ASIC) reveals that 48 % of Australians do not feel that their super is sorted.

Fortunately, it's a whole lot simpler than you think to have your super sorted. Below are five steps you could take now.

1. Set a target
Here's the million-dollar question - how much super is sufficient?
There's no single solution, as everyone's circumstance is different. It all depends on upon when you intend to retire and the way you want to live your retired life. But as a basis, the Association of Superannuation Funds of Australia or ASFA measured that an ordinary couple is retiring with their house presently require around $58,326 annually for a sufficient retired life. Meanwhile, while their counterparts will need $42,597 a year. To attain that, ASFA computes that a single person will have to save $430,000 in super while a couple will need $510,000.
The typical couple who retire with their residence will require about $58,128 each year for a comfortable retirement while their counterparts will need $42,433 a year.

2. Locate your Lost Super
Based on the Australian Tax Office or ATO, there has to do with $16 billion worth of super in accounts that have not been submitted. If some of that is yours, it is essential to get it as soon as possible. It is your money, and when you retire, you'll need everything.
Fortunately, it's never been easier to discover your lost super: just go to www.australiansuperfinder.com.au or call them at 1300 252 167 for support. You'll additionally require your Tax Report Number as well as other information to prove your identities, such as your financial account information and the details of your existing super fund.

3. Combine your Super
When you've located your entire super, it pays to put all of it into a single account.
In this manner, you will only need to pay one set of costs, which suggests that additional money goes to your retirement. Also, your super will be easier to track, with much less paperwork - making it easy for you to see exactly how your investments are doing.

4. Examine your investment choices
Your super is currently on the one account; make certain that it is the right thing for you. You can do this by reviewing your superannuation fund's declaration or looking at your super account online.
Picking the right option depends on upon your retirement goals, for how long you have to keep up until you retire, and just how much risk you're comfortable with. If you're unsure of what to do, it could be time to seek professional advice.

5. Get professional recommendations.
Your super is possibly the most vital financial investment you'll ever make, so do not work on it alone. A great advisor might aid you in choosing the ideal fund and financial investments for your situation. They can also introduce you to approaches that can increase your super - and even enable you to pay less tax.

If you want more information about this subject, go to www.australiansuperfinder.com.au

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