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What age you need to take super saving seriously – or suffer

What age you need to take super saving seriously – or suffer

It’s not just about how many contributions you make, choosing a top-performing fund could boost retirement savings by more than 50 per cent.

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The best age to start taking superannuation seriously – or risk a financially squeezed retirement – is in your mid-thirties, which is typically towards the end of the first decade of saving.

But there’s also a sweet spot between your fifties and sixties when compound interest can double your nest egg – and even triple it with returns of 7.5 per cent a year, according to analysis by Rainmaker Information, which monitors super fund returns.

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Duncan Hughes
Duncan HughesReporterDuncan Hughes is a Walkley award-winning personal finance reporter, based in our Melbourne newsroom. Connect with Duncan on Twitter. Email Duncan at duhughes@afr.com.au

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Original URL: https://www.afr.com/wealth/personal-finance/what-age-you-need-to-take-super-saving-seriously-or-suffer-20240119-p5eyoc