Do some homework on your super

We live longer and stay more active.

Saving for the time when you want to take it easy.

Today, the idea of retirement is a completely different picture to the expectation of our parent's generation. Forget that rocking chair on the veranda! Today, we live longer, stay more active and want to enjoy this exciting new time in life doing all the things that have been put off because of work. The question is, can we afford to?

Allowing for inflation, many items could cost double over the next few decades.

The financial reality is that most of us need to save more for retirement. Without a regular salary, you have to live off your savings. Even with interest earned on savings, how will you manage to buy food, pay bills and keep a car on the road, for 10, 20 or 30 years after you leave work?

Saving to travel?

Like a few examples?

Going out for a latte at a local cafe just twice a week at today's price of $3, would cost you over $3,000 over 10 years. Buying a daily newspaper at today's price could add up to over $5,000 for 10 years. Ouch.

How much money is enough for a pleasant retirement?

A retirement where you can enjoy a meal out with friends, a trip to the movies and some travelling. It's generally agreed that you'll probably want around 60-80% of your pre-retirement salary when you stop working. The compulsory contributions your NGS Super employer makes on your behalf are unlikely to do this for you.

It will certainly pay you to do a little homework and find out more.

Salary sacrifice calculator – see the benefit of making extra contributions to your super account. You may even qualify for Government Co-Contribution.

Financial planning - advice and ideas relevant to your age and time of life, explained with honesty and clarity by industry professionals

FREE NGS super seminars – get some super ideas about saving more effectively for your future. There's no pressure and no obligation.

If you would like an NGS Super presentation at your school - get your local NGS Super representative to visit your school to provide some ideas on how you can maximise your retirement savings.