Sometimes you make a decision that should have been done 10 years earlier, but now my hindsight can help you!
Did you know that when you turn 55 years of age you can self manage your own super? Until last year I had my Superfund looked after by someone else and now I see that I lost the chance to be richer as I could have started to manage my superfund a long, long time ago.
I wrote a post last year that said the superannuation fund was a joke and although I was being honest and outspoken with my opinion I got a lot of negative response from Brokers (which I appreciate their opinion) but did not agree with them.
Between myself and my husband we did not have a lot of money as all the money we put in to our Superfund throughout the year it “ate it” with bad investments and fees.
This year by self managing my Fund myself and including the money we put in we increased our savings by 20%. If I had left my money in the Super I would probably had increased another $10000 for the year but what happens to the other $50000 I put in. And they are trying to tell me I made money?
So doesn’t it make sense to manage it myself? I am not a Finance Advisor ( God forbid) and none of those people agree with me but I just use my common sense and it looks like it is working.
If you are over 55 then you can self manage your Super too!
Good luck & Feel free to ask me any questions!