Six ways to boost your super

It’s amazing the difference a small annual contribution can make to your retirement savings if you start early. Regular contributions, combined with compound earnings – the ability to earn interest on your interest – can significantly boost your eventual retirement nest egg.

Here are six ways you can start boosting your super now.

1. Government co-contributions

Take advantage of the Government’s incentive and you could turn every $1 invested into super into as much as $2 (conditions apply).

2. Salary sacrifice

Grow your super and minimise you tax at the same time by allocating more of your pre-tax salary to go straight into your super.

3. Converting assets to Super

By selling your assets and paying the proceeds into your super, you may be able to benefit from favourable tax treatment.

4. Concessional contributions

If you are 50 or over, you can allocate up to $50,000 a year to your super at a concessional rate.

5. Spouse contributions

Reduce your tax by making contributions to your spouse’s super if you are a low income earner.

6. Consolidating your super

If you’ve ever had more than one job, it’s likely you have more than one super account. Consolidating could make a real difference to your end balance, plus lower your fees and be easier to manage.

Speak to us today to maximise your retirement income.