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

Superannuation Management in your 20s

So youíre in your 20s. With more than 20 years to retirement, Iím guessing youíre probably not too concerned about your super, and rightly so. There arenít too many financial issues for you to think about.

You may not even think of depositing for your own home at the moment, or saving for family life. But when it comes to super, you are in the perfect age to begin investing on super. This is however the least sacrifice you will be making for your future.

You will get More Returns if your Start Early

If you salary sacrifice at least #20 per week, you will be eligible for the $500 from the government hand up. Do this over the next 10 years you can have an extra $200,000 in retirement. If this doesnít shock you, then the idea that one day you will be old will.

If you are in your 20s, try and get into the property ladder first. Develop good saving habits; aim to contribute 10% of your salary to super over the long term. Make sure you know the hidden traps of your super, including the amount of insurance you have automatically been given and whether thatís right for you. And remember that super is not just about paying fees. Get your investments right. You can afford to do this.

Annually, the investment returns you made put to your superannuation, increasing the sum of your overall investment. The next year, your returns are computed from this larger investment amount. Year after year, the returns are compounded due to the investment returns of the past years.

If you begin early, this process of compounding builds your superannuation over a longer time and so has a bigger effect on the retirement savings you earned than if delaying your contribution plan. So 20 is the magic number.

You can learn more on how to manage your super in your 20s at www.australiansuperfinder.com.au

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