SuperStart

You under-estimate the power of super

04 Aug 2022 2 min read

Supercharge your super

81.9% of the Gen Zs we talked to want to retire before 64. You’re also keen to learn about investing —all over bitcoin and micro-investing. But when it comes to super, you switch off, with over half not even choosing your own super fund! This means you’re probably going with whoever your employer is with and you might not realise how many super funds you belong to, or how much of your hard-earned cash is going towards high fees!

We get it. It’s hard to get excited about money you’re not going to see until you retire.

But you could look at it a different way. You want to retire young, and you’re probably picturing retirement as a time when you get to do what you want. To do that, you need to have money. Super is a simple, straightforward way to make sure you do. Multiple super funds — multiple sets of fees and missing out on compound interest (interest on top of savings and interest). You can easily save more money for your future by just having one super fund with one set of fees. This is called “consolidating your super” or rolling over your super.

Did you also know that just by having a super fund, you’re already an investor? This is because your super fund invests your money in different companies and funds. So, for example, if environment and sustainability is important to you, do you know if your super fund invests in renewables? Are they carbon neutral?

You could be underestimating the power you have just by having a super fund.

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