How do I make the most of my super in my 20s?

Super doesn’t happen quickly, it builds over many years.

Understandably, it’s difficult to be interested in super when you’re young. Retirement seems so far away it doesn’t feel real. Still, super is important. It’s your money, even if you can’t use it yet. Look at your next pay slip – that’s real! You’ll notice nearly 10% of it is going ‘somewhere’. That somewhere is your super.


Five great things about your super

1. It’s your hard-earned money

Ok you can’t use it for quite some time, but use your imagination to think of all the fun stuff you could do when you retire. Yes, retirement can be fun!

2. You won’t miss it

You haven’t missed that money in the past. Chances are you won’t miss it in the years to come. In some ways it’s an easy and painless way to save for your future.

3. Compound effect of investment earnings

That means the earnings on the money you deposit are reinvested, allowing you to compound your investment returns over time through having an interest in a growing amount. It's like a double dip on what you put in to super.

4. You can boost your super

Things like taking advantage of the government’s co-contribution initiative or adding a bit extra personally can make a big difference to the total amount in the future, like thousands of dollars!

5. Super's your long-term relationship

You might not be ready to settle down in your personal life just yet, but it’s a great idea to commit to one super fund early. Changing funds every time you get a new job can mean you get charged multiple fees, and that impacts your super balance – big time!

Want to learn more?