Stockspot’s Fat Cat Fund Report said members in their 40s and 50s need to refine their super fund strategy to encapsulate a mix of growth and balanced fund options.

This includes shares with higher potential for return mixed with defensive options such as bonds and cash to reduce the potential of large losses.

At this age, members might be looking to protect assets they have accumulated during their 20s and 30s, Stockpot noted, meaning a more balanced strategy is advised.

Three super tips to get the best out of your super in your 40s and 50s:

1. Check super balance is a mix of growth and balanced funds – These are suited to most people in their 40s and 50s. At this age, members want to reduce the chance of large losses in super while maintaining some growth assets.

2. Pay less than 1 per cent in fees – Finding a fee with low fees could save investors up to $180,000 in the long term, Stockspot said.

According to the online investment adviser, members with higher fees will lose 20 per cent on their returns on fees, compared with just 5 per cent for low-fee funds.

3. Consolidate super funds – To ensure members are not paying double for fees and insurance, Stockspot has reminded members of the importance of insuring their super is consolidated.

To find out what you should have done in your 20s and 30s, click here. 

To find out what you should do in the next stage of your working life, click here.