The age pension for older Australians nearing retirement is currently worth $33,500 for couples, but people can benefit more from wealth building strategies to get the most out of their Superannuation. Here are just some of the strategies that you might want to consider to grow your nest egg:
Salary sacrifice. Setting aside a few dollars for your superannuation can pay dividends as tax savings can grow over the years.
Super strategies. You might want to consider other super strategies that will boost your nest egg, such as co – contributions and spouse contributions.
Track down your cash. To ensure that you have all your contributions accounted for, you can search for your super contribution from websites such as www.ato.gov.au and www.moneysmart.gov.au.
Invest. Shares and property are great ways to build wealth, so you might want to consider these asset groups.
Eliminate debt. Reduce debt by making extra repayments for your credit card and other higher interest debt.
Read more about this on the News.com.au website.