Retirement
Super advice for every stage of life: Part 1
Investors in their 20s and 30s could be adding up to $225,000 to their superannuation accounts by moving to superannuation funds offering the lowest fees, new research has found.
Super advice for every stage of life: Part 1
Investors in their 20s and 30s could be adding up to $225,000 to their superannuation accounts by moving to superannuation funds offering the lowest fees, new research has found.

Stockspot has released a report that shows younger Australians’ decision-making with regard to their superannuation fund could be the single most important source of savings they will have over their working life.
According to the online investment adviser, younger Australians should be invested in growth funds comprised of around 70 to 80 per cent in equities.
The more shares members have in their portfolio, the better chance they have of achieving higher returns.
A long working life will provide surety and should cover any losses, it explained, offering up three tips for those in their 20s and 30s:

1. Aim for growth – With around 40 years in the workforce to go, investors should be looking to take on more risk for potentially higher returns. Due to the prolonged time their money will spend in the market, younger investors can afford to take on risk and earn more money down the track.
2. Pay less than 1 per cent fees – Choosing a low fee fund could potentially add $225,000 to an investor’s nest egg, according to Stockspot.
This is based on the assumption that a 35-year-old member makes the median $78,192 and has $56,732 already in their superannuation.
According to the investment adviser, investors who have fees about 2 per cent will lose 27 per cent of their total returns in fees, compared with just 8 per cent for anyone that pays under 1 per cent.
3. Consolidate funds – Stockspot reminded individuals that having more than one account means they are paying double the fees.
By consolidating super, members will pay less, with every dollar not spent on fees another dollar that can be providing them with higher returns.
Click here to find what you should do in stage 2 and stage 3 of your working life.
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