You are not 'super' stressed04 Aug 2022 2 min read
Set a super foundation
Our research found that despite superannuation being the most significant investment young Aussies can make towards a brighter future, it’s not front of mind, even after a global pandemic that’s hurt the finances of many. You’re just not “super” stressed. And ever the cool generation, the impact of COVID didn’t really lead Gen Z to change attitudes towards your super, with only 15% wanting to invest more in super despite having saved more.
On top of this, a little less than half of Gen Z said you were aware of how much super your employer was paying – called the super guarantee. Pleasingly, when the super guarantee rose to 10% on 1 July 2021, 70% said you would pay more attention.
Something else you might not be aware of (well, over three quarters of you told us you didn’t know) was that when you start your first job and open your first super fund, you are “stapled” to it. This means it’s following you around from job to job.
And if it’s not the best super for you, it’s time to review and made a choice. The power is in your hands.
You can and should make sure you’re in the right fund with the right options for you. Are you open to more risk? Do you want to invest ethically? Is being in an industry super fund important to you? These are all things to consider to help you build the nest egg you deserve.