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

Can Kids Be More Ready For Retirement?

And that entails educating them on super financial savings routines that will be applicable when they're older.

As you grow older and begin thinking of your retirement, you often wish you had started saving earlier. So it's only all-natural to want to help your children succeed - so they'll be in the most comfortable financial position when they get to retire themselves.

While we cannot foresee what the future will bring, but we can prepare our children with fundamental financial abilities that will stand the test of time. Research studies reveal that children could form financial habits as early as the age of seven- so those early years are essential.

From Little Points, Large Points Expand

Researchers show that kids could form money practices by the age of seven-- so those early years are crucial. You can make it possible for your children to get into an excellent habit of saving money by urging them to have the budget plan and limit the spending of their money.

As they age to set up a bank account for them and also show exactly how compounding works. Use concrete examples and make motivations - offer them a goal to work for, by contributing a particular amount of money on a monthly basis.

As soon as your kids start becoming engaged, they'll already understand the value of compounding interest. By depositing a little amount from each paycheque into a savings account, they will be setting themselves up for financial protection down the track.

Avoiding the Financial Obligation Cycle

It's very easy for youths to move right into having a credit card and become responsible for their financial obligations. The average Australian has $3,300 on their credit card, which at 15 - 20 % interest rates can add up to around $600 in interest a year.

Show your older youngsters how to utilize their credit card well, and pay the bill off entirely each month. Online calculators can help them comprehend the cost of getting on credit - as well as the length of time that may be required to pay it off.

The Value Of Properties

When your children become young adults, owning a home could be the last priority on their mind, yet that's why you need to help them comprehend just how crucial it is to obtain one early.

By getting a home loan in their 20s or 30s, they will have the chance to pay it while they are still in their functioning years - which could leave them free of financial obligation by retirement.

Why Super Matters
One of the most valuable assets your youngsters have is time - this is where their super comes in. It's estimated that a bachelor in their mid-40s or below will need to have at least $496,000 to retire pleasantly by the age of 65. And the fact is, by the time your kids get to old age, it's likely to get even more.

While they have decades of work ahead of them, you can encourage your children to enhance their super through salary contributions from their pre-tax payments. By helping them earn returns on their savings over years, you might wind up offering them a sound financial future - or even a more comfortable retirement. For example, if your son or daughter is aged 25, and covers up their super by $20 per week for the following 40 years, they could end up getting more than $80,000 which is perfect for retirement.

Help your kids prepare for retirement by learning more about on our site - www.australiansuperfinder.com.au

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