Planning for Prosperity’s Daniel Budreika was quoted in this article on How to play catch-up with your Super
Daniel pointed out that ‘every bit counts’:
- Consolidate multiple super funds to avoid paying high fees
- Use Salary sacrifice to make extra contributions because it comes with tax benefits
- Lower income earners can qualify for the government’s super co-contribution of up to $500 a year by making after-tax contributions.
Daniel summed it up by saying:
It all boils down to adding more money to super than your employer puts in. There is no free lunch — you have to give something up.