Superannuation Contributions - Is It Right For Me?

Superannuation Contributions – Is It Right For Me?

End of financial year is fast approaching.

As a financial planner, this means making sure my clients have made their recommended contributions into superannuation before the clock resets on 1 July. But if you’re yet to engage a financial adviser and receive financial advice, you might be left wondering if you should be making a contribution before 30 June.

Superannuation Contributions – Is It Right For Me?

When it comes to superannuation, there can be tax advantages for you at the time of contribution, as well as on the growth and earnings for years to come.

In addition to the tax management strategies, having money invested and growing to fund your lifestyle once you’ve retired is often a good thing. Some issues to work through maybe; Calculating the best use of your contribution caps, including the bring forward and carry forward rules.

Anticipating your tax position and deciding whether you should claim a deduction on the contribution. Assessing what impact locking these funds away for your retirement will have. And selecting a good investment option inside your superannuation fund.

All these areas need to be worked through and are just some examples of what I factor in when we partner together to design your personalised financial roadmap. If you’re thinking about making a contribution to superannuation, but want the support of a qualified financial adviser, reach out and start a conversation.

I’d love to start working with you. I’m Luke Hanson, Financial Adviser and Director at My Financial Design. A financial planning business in Wynnum giving advice to Baysiders and people all over Brisbane and beyond.