Because it makes sense!
Thinking about your retirement is probably the last thing you’ll want to do in your 20s. You’ve probably just graduating or embarking on overseas travel and figuring out what you’re going to do next weekend. Who needs to think 40 years ahead when you’re just starting out?
Or at least you do if you want to have a great lifestyle in retirement.
Here are three simple things you can do right now that will set you up for your future:
- Sort out your super. Do some research on fees, investment and insurance options and choose a low-cost super fund with a solid track record. Give the fund details to each employer, keep an eye on the fees, the returns and investments. If it’s not working for you, change super funds. Make sure your employer is paying the right amount of super into your account and, if you’re able, make voluntary contributions to boost your balance. Your super is your money – so take good care of it.
- Invest outside of super. Your super isn’t accessible until you’re 60. This may change a few times before you’re old enough for it to be relevant, but if you want more flexibility than a super fund can offer you, consider investing outside of super. Property, shares and gold are amongst the most common investment types, but figure out what you want to achieve and what investment option is most likely to help you get there. We can help talk through the options with you if you need some guidance and advice.
- Reframe your opinion on retirement. Just because your parents and grandparents retire at 65, you don’t have to. You may decide that you’re going to work like a demon, make a ton of money during your career, make a ton more through investments, retire at 45 and start your adventures early. Whatever you want to do, make a financial plan that will support you to achieve your goals. The earlier you start working on your goals, the earlier you’ll achieve them.
Start today. Don’t wait. Your future deserves a little attention now.