News
3 superannuation must-dos in your 20s
08 Aug 2024
4 min read
Sure, retirement may be a long way off, but did you know that the sooner you start planning, the better chance you have of creating the retirement of your dreams? Maybe you want to retire in the Caribbean, teach your grandkids how to surf or perhaps pen your memoir. There are hundreds of ways you could spend retirement but designing it the way you want is going to require money. And a little planning is the best way to make sure you have the money you need – and the time to get started is now!
We share 3 easy actions to set you on the path to a happy and comfortable retirement.
1. Bring your super into one fund
If you’ve had more than one job, it’s likely you have more than one super account. And you’re not alone. ATO data shows that at June 2023, around 4 million Australians had 2 or more accounts.1 While it's ok to have more than one super account, it can cost you money and time. If you have more than one super account, you could be paying multiple admin fees. Another downside is that it can be harder to keep track of how much super you have. Finally, you could be making things harder for yourself by receiving communications from multiple funds.
It may make sense to bring all your super savings into one account. It’s easy to do. If you're a member of NGS, you can consolidate your super through Member Online. This easy-to-follow video will show you how easy it is to do. You can also use the government’s tool.
Top tip: Before you consolidate your super, make sure you consider the impact it may have on your benefits, including any insurance.
2. Get super savvy
Super might seem like a boring topic, but for most people, it will be the largest asset they have outside of the family home 2. Pretty amazing, right? So, it makes sense to pay attention to it, and if you know how, there are many ways you can improve your super savings.
You don’t have to spend hours at courses or anything like that because there are easy ways to learn more – you can do it on your daily commute, on a walk or at the gym. Here’s how:
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Watch a webinar
Why not come along to our free webinars? It’s a great way to learn about a variety of topics from experts in a simple way.
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Read a little to supercharge your knowledge
We have a range of articles and factsheets about super and money that will let you learn at your own pace and revisit at any time. Scroll to the bottom of this page to check out the latest news!
Read our fact sheets and articles
3. Chat with a free Super Specialist
We strongly recommend booking a free one-on-one session with an NGS Super Specialist. No question is a bad question when it comes to it comes to your money, super, investments, or insurance. So having a conversation with an expert can help you feel confident about the decisions you make about your money and the future.
Books a free chat with a Super Specialist
