Newspaper article The Daily Mercury (Mackay, Australia)

Act Now for Solid Super in the Future; A Small Amount of Salary Sacrifice Can Make a Big Difference

Newspaper article The Daily Mercury (Mackay, Australia)

Act Now for Solid Super in the Future; A Small Amount of Salary Sacrifice Can Make a Big Difference

Article excerpt

Money Made Simple

Noel Whittaker

news@dailymercury.com.au

IN 1987, when I wrote Making Money Made Simple, I pointed out that Australia's population was aging, with more and more pressure to be placed on government budgets. I also wrote that financial independence is within the grasp of anybody who learns the fundamentals of investment at a young enough age, and decides to put their mind to becoming wealthy.

Think about those born after January 1966 - they will not be eligible for the age pension until they turn 70.

Odds are that most of them will live to more than 90.

This means they have to stay at work until 70, and while doing so, accumulate enough money to see them for more than 20 years.

This is why it is vital to start using strategies now to boost your finances.

Let me show you how powerful extra superannuation contributions can be.

A person is 48, earns $80,000 a year, has $120,000 in super all contributed by the employer. …

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