The paperwork that can return up to $300,000
Switching to a higher-performing super fund and making sure your asset allocation is correct can add hundreds of thousands of dollars over 20 years.
A young adult’s choice of super fund and investment strategy could mean a difference of hundreds of thousands of dollars in accumulated savings during the first 20 years of their working life.
Mercer Australia highlights the impact by modelling three different outcomes for a full-time, 25-year-old employee on a median salary ($72,000) with an initial balance of $20,000. The modelling includes future super guarantee contributions (currently 10 per cent but rising to 12 per cent).
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