Is Your Superannuation
Working for You?
Superannuation is one of the most misunderstood investment vehicles available on the Gold Coast and indeed Australia. Yet, it can be one of the most tax-effective vehicles for Gold Coast clients when planning their financial future.
Superannuation is, all too often, viewed with the mindset that, ‘if it ain’t broke, don’t fix it’. However, having this mindset may be holding you back from reaching your retirement goals. The truth is, superannuation is the user-pays philosophy of funding your own retirement. Thus, by not doing due diligence in choosing the best super fund for your needs and goals, you are only robbing yourself of a comfortable retirement.
Are you ready to take the first step?
Don't Settle For Any Old Super Fund!
You don’t have to settle for the super fund that your first employer set up for you. It’s your life; you are in control. You have the right and ability to change super funds at any time, and at any stage of your life.
The good news is, you’re not expected to study every super fund to determine which is best for you – we do this for you! As Gold Coast financial planners, it’s our job to investigate strategic opportunities to improve and grow your superannuation, pro-actively.
Our expert team is here to answer your questions and demystify what structure, strategy and investment options are right for you and answer any questions you might have. Getting started is the first step to taking control of your super and making it work for you.
Benefits of Superannuation Planning
The benefits of superannuation are endless, but only if you invest in the right super fund. This is why our Gold Coast superannuation planning service is so important. True, superannuation alone offers tax-effective savings, tax-effective capital growth, a lower tax rate during retirement, increased protection of your assets, and the ability to draw tax Complimentary income in retirement. But, pro-active superannuation planning ensures your life-long investment is maximised to deliver the best possible returns.
The number one goal of the Centaur’s Gold Coast superannuation team is to help maximise the probability of you reaching your financial goals.
If you’re looking for certainty in your retirement, then take the first step by contacting Centaur Financial Services.
Our team of Gold Coast super fund advisors can steer you in the right direction when it comes to choosing the best fund for your needs and goals. And, the best part is, its never too late – or early – to take that first step. We can help you change your financial future at any stage of your life.
Our expert Gold Coast super fund advisors can help you:
The Centaur Difference
Centaur Financial Services is dedicated to helping Gold Coasters reach their financial goals. As a boutique Gold Coast financial advisory firm, we understand the importance of personalised service and take pride in knowing that our service is second to none.
By choosing us to manage your superannuation planning, you are making a sound investment for your future. When you invest in us, we invest in you. Our Gold Coast advisors take the time to develop a close relationship with you; to understand your dreams and aspirations. We form a tailored strategy to ensure you have the savings to provide a comfortable standard of living in your retirement years.
Take away the guess-work and get financial clarity in retirement by investing in a team that cares about your future as much as you do; Centaur Financial Services. Contact our expert team today to arrange a Complimentary no-obligation meeting – it may just change your retirement!
The Centaur Process
Our superannuation planning follows a developed six-step process that entails:
Frequently Asked Questions About Superannuation Planning
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What is superannuation, and how does it work?
Superannuation money put aside by your employer to live on during your retirement.
Superannuation in Australia works on the premise of employer contributions. When you start work and earn more than $450 in a calendar month, your employer is legally required to pay a minimum of 9.5% of your wages into your superannuation account. This sum is on top of your yearly salary. Your super fund then invests and manages this money until you retire.
The superannuation account that the money is put into is of your choosing. If you have no preference, your employer will usually join you to their fund, which may or may not be the best fund to help you reach your future retirement goals.
Your superannuation will start small, but over the course of your career, it can reach a surprising sum, especially if you have invested in Centaur Financial Services’ Gold Coast superannuation planning service.
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How much super do I need to retire at 65?
How much super you need to retire comes down to the lifestyle you wish to live in retirement and what you define as ‘comfortable’.
The Association of Superannuation Funds of Australia (ASFA) estimates a superannuation balance of $640,000 is required for couples to live out a comfortable retirement and $545,000 for singles. This is, assuming you withdrew your super as a lump sum and received a part Age Pension.
It’s important to note that the ASFA define ‘comfortable’ as being able to enjoy occasional travel, recreational activities, mid-range car, top-level health insurance and electronics.
However, more importantly, is the shortfall between what the required balance, and the actual average balance. The table below shows a significant gap for each age group, for both males and females.
How much super should you have?
Gender Age Average balance Balance required today for a comfortable retirement Gap Male 30 $25,520 $61,000 –$35,480 40 $56,792 $154,000 -$97,208 50 $111,115 $271,000 -$159,885 60 $180,944 $430,000 -$249,056 Female 30 $21,765 $61,000 -$39,235 40 $46,075 $154,000 -$107,925 50 $87,634 $271,000 -$183,366 60 $154,896 $430,000 -$275,104 Prepared by www.canstar.com.au – 10/09/2020. Average balance per APRA’s 2019 Annual Superannuation Bulletin. Balance required today for comfortable retirement based on ASFA’s Super Balance Detective Calculator. Gap calculated as the difference between the average balance and the current balance required for a comfortable retirement. Comfortable retirement assumes ASFA’s Comfortable Standard balance of $545,000 (in today’s dollars) by age 67. ASFA assumes future pre-tax wage income of around $65,000 and that upon retirement the retiree draws down all their capital and receives a part Age Pension.
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How much super does the average Australian retire with?
The Australian Bureau of Statistics (ABS) ‘s 2017-18, Household Income and Wealth, Australia report found that at retirement age (66), the average Australia man has a superannuation balance of $417,900 for men and $378,600 for women.
Age Average balance (men) Average balance (women) 15 to 24 years $6,300 $6,100 25 to 34 years $41,700 $31,600 35 to 44 years $100,300 $69,300 45 to 54 years $196,400 $129,199 55 to 64 years $332,700 $245,100 65 to 74 years $417,900 $378,600 75 years and over $366,200 $270,300 -
Who can give superannuation advice?
Superannuation advice Gold Coast is given by financial advisors such as Centaur Financial Services. To provide superannuation advice, you must hold an Australian Securities and Investments Commission (ASIC) issued Financial Services Licence, or be an authorised representative of a licence holder.
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Do I need a financial advisor to manage my super?
A financial advisor isn’t required to manage your superannuation, but they can be very beneficial to your balance come retirement time. Centaur Financial Services are aware of any legislation changes and know how to make the most of your superannuation to ensure you enjoy a comfortable retirement.
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Centaur Financial Services Pty Ltd is a Corporate Authorised Representative (CAR) number 342372 of Australian Advice Network Pty Ltd.
ABN: 13 602 917 297 AFSL: 472901.
The information provided on and made available through this website does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Centaur Financial Services do not warrant the accuracy, completeness or currency of the information provided on and made available through this website. Past performance of any product discussed on this website is not indicative of future performance.
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