How do I make the most of my super in my 30s?

Your 30s is the ideal time to set yourself up for financial security later in life.

After a few years in the workplace, your super should start looking like a sizeable lump and feel like it’s ‘real money’. Retirement may still feel like a long way away, but the earlier you start preparing, the bigger your nest egg will grow.

5 ways to set yourself up for the future

1. Bump up contributions

This is the decade when you might be buying your first home, getting married and having kids.

Even though sneaking an extra $20 a week into your super might seem difficult it can really be worth the effort. It can make a big difference in the long term.  It may also provide tax benefits through salary sacrifice.

2. Cover the basics

Now’s a fantastic time to get your super organised. This could mean consolidating your accounts and making sure you’ve picked a super fund that works for you.

3. Go for growth

This is the time you could consider whether a more aggressive investment option is right for you. An investment option that offers a portion in growth assets – such as shares – is a higher-risk investment option but has the potential to offer higher returns than conservative investment options, if it is invested in over the long term. 

4. Protect yourself

Stepping free of the invincibility of your 20s, you may now have debts, such as a mortgage, and a lifestyle that depends on a stable income. It’s worthwhile considering ways to protect your income and your lifestyle through your super fund.

5. Cover the baby gap

If you’re taking time out of the workforce to start a family it’s worth keeping your super in mind. Ways to do this could include spouse contributions while on maternity leave, or bumping-up personal contributions.

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