How Much Will You Need?
Monday November 24, 2008
When planning for managed super funds, the first question you will need to answer is how much will you need? This must be in terms of the amount you need at the time you retire, taking into account the effects of inflation, other assets you may have, and the amount of tax that will be removed from your managed super funds when you eventually access it.
Choosing a super fund is also important to reaching your goals, as you will need to maintain a certain level of growth on average if you are to succeed in funding yoru entire retirement. Do not forget, either, that you are likely going to need to add money to your managed super funds on top of the compulsory contributions that employers make. The earlier you start this, the more time the money has to work in your favour, so look to preparing for retirement early so that problems with your managed super funds later in your career will be less troubling if they happen at all.
Please click on our ESUPERFUND sponsor banner if you would like to see what ESUPERFUND offer to help start self managed super funds.
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