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Make a statement about your financial future

Make a statement about your financial future

You’re about to read a sentence that is unlikely to excite you but keep reading to get excited!

Over the next few weeks most working Australians will receive their annual superannuation statements… it’s likely you’re one of them.

For many people, these statements don’t make a lot of sense. That’s because super is complex and many, if not most, of the more than 10 million annual superannuation statements that will be delivered will be filed away in a drawer, tossed aside or even binned, without any real consideration or analysis.

I want you to make this the year that you change all that and the benefits are worth just a little effort. This little pot of gold is what you need to grow to maintain your lifestyle for 30 or 40 years after you retire!

By the time you retire, your super should be worth more than your house. Given how important it is to your financial future, your annual statement is your chance to give it some thought.

It contains a lot of information…

It will detail the fees you are paying, the insurance you have, how your super has performed, how it is invested, the level of risk you are taking with your superannuation investments and how much has been contributed.

When you look at it, it may leave you scratching your head. Information overload and analysis paralysis can take hold. But there is so much you can do to take control of your super and make sure you are on track to maximise your retirement savings.

Don’t feel like you need to work it all out yourself. Seek help to ensure you are on the right track.

I just met with some new clients who are in their early thirties. By utilising the combined effects of higher returns, lower fees, compounding returns and time, I was able to show them how their retirement savings can be boosted by $1.2 million. That’s not a typo… $1.2 million more than they will have if they continue with their current superannuation situation.

This couple earns incomes that are likely to be similar to yours. They are not rich, but with SMART strategies that all the experts agree with, you can likely achieve something similar. The sooner you get cracking, the better your results will be.

And when I say experts, I mean experts… not really good salespeople.

I’m hoping that last year was the final year that you’ll ever ignore your super statement and that going forward you’ll be heard to yell, “Oh yay, I’ve got my annual super statement!”. After all, it’s the best legal tax break we have available to us.

Here’s some free advice… the most important question to ask is, “Compared to what?”. In saying that, DON’T make decisions about your superannuation by looking at the best performing funds. Why? Well, because that sort of comparison is only telling you a small part of the story. It’s a little too in depth to explain here, but last week I explained it to another new client and received what is the greatest compliment I think I’ve ever had, “You are so logical, that makes perfect sense now that you’ve explained that to me”.

If you feel like your financial future might benefit from independent, impartial and unbiased financial advice… my door’s open.



If you’d like to find out more about how INDEPENDENT financial advice could help you manage cash flow, pay off the mortgage faster, get the most out of super and invest wisely, then get in touch on 0411 484 464 or head to wealthtrain.com.au.

Daniel McGregor is the man behind Wealth Train and is a member of the Independent Financial Advisers Association of Australia. This advice may not be suitable to you because it contains general advice which does not take into consideration any of your personal circumstances. All strategies and information provided are general advice only.

Daniel McGregor and Wealth Train are authorised representatives of Independent Financial Advisers Australia AFSL 464629

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