Super for Beginners

Superannuation for Beginners articles are a great starting point for anyone beginning their superannuation journey, or beginning their super education.

You can find the answers to questions that you may have been afraid to ask, or not known to ask. You can also ask your own questions, which helps us build the Beginners section of SuperGuide, and helps our many thousands of readers.

Below are some of our key Super for Beginners articles:

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This article is updated regularly when new financial advisers join the independence club. A financial adviser does not have to be a member of the IFAAA to join the SuperGuide list, provided they can declare that they satisfy the requirements of being an independent adviser.

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One of SuperGuide’s more popular initiatives has been the development of a ‘Super for Beginners’ section that answers some of the many questions that we receive from those readers who are new to superannuation and new to super’s terminology.

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For so many women, the needs of other people usually come first — children, partner, parents, friends and even workmates.

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Q: I checked my statement and I put an extra $10 per week into my super and each time an amount is put in, it has been taxed. Is this right? I thought that my contributions were tax-free?

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Q: I am 16 years of age. I still go to school but I have just started my first part-time job. Do I get any superannuation? And if I do, where does it go?

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Q: I’m new to Australia and I have absolutely no idea where to start with my super in order to have the best outcome 40 years from now.

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The Top 10 must-know facts are a handy guide for those seeking to understand how the super rules work, and the list also serves as a refresher for those readers who may be more familiar with the super rules.

Set out below are all SuperGuide articles explaining Super for Beginners.

2016 Federal Election: Less Age Pension, and paid to fewer Australians

The change to the Age Pension rules is a bad example of ‘back to the future’ it seems, with a harsher Age Pension asset test taking effect from January 2017. The federal government expects 300,000 retired Australians will lose some, or all, Age Pension entitlements overnight.Before September … [Read more...]

Age Pension: 300,000-plus Australians lose entitlements from January 2017

Note: Changes to the Age Pension assets test are now law, and will take effect from 1 January 2017. The successful passage through parliament was due to the Greens supporting the changes announced by the Liberal/NP government in the 2015 federal budget. The ALP opposed the changes. Continue reading … [Read more...]

Financial advice: Only 76 independent financial advisers in Australia

Note: This article is updated regularly when new financial advisers join the independence club (latest update May 2016). A financial adviser does not have to be a member of the IFAAA to join the SuperGuide list, provided they can declare that they satisfy the requirements of being an independent … [Read more...]

Women and super: A worry-free financial future is possible

Before I wrote Super Freedom: A woman’s guide to superannuation, I had often discussed the need for a practical non-technical book for women on superannuation. The first question I was asked when I told some female friends that I was writing a book for women on superannuation and retirement was: … [Read more...]

Want to make 50% return on your super money?

If you earn less than $50,000 or so a year, or your spouse or children earn less than $50,000 or so a year, then you, or your spouse, or child, have a window of opportunity within the next few weeks (by June 2016) to potentially make a 50% return on your money when you make an after-tax super … [Read more...]

Super Tip No 3: Turn $1000 into $1500 in three steps

I don’t normally suggest ‘easy money’ strategies. I’m often sceptical about the motives of the individuals suggesting such strategies, which means I don’t like being boxed in that same category. In this instance however, I am going to explain a government-backed strategy that means, if you’re … [Read more...]

Super Tip No 2: Love your super like your own

The easiest way to save your super is to treat your super like you would money in the bank – which it is, nearly, except that you can’t spend it yet. Key message: It’s your money You turn up for work and your employer must pay money into a super fund on your behalf – the equivalent of 9.5% of your … [Read more...]

Super Tip No 1: Treat your super like overtime

If the idea of superannuation doesn’t excite you, yet, imagine, instead of super, that you were being paid overtime for work outside your normal work hours.And if you expected to be accumulating this money every week, you’d be doing some research on how much overtime your company usually paid, … [Read more...]

Remember! Retirement unlocks your super cash

In the hype and hoopla surrounding the rules relating to super – in particular, tax-free super benefits for over-60s, many of the websites in the super space forget to mention the magic words ‘preservation rules’.The rules surrounding when and how you can access your super have not changed for … [Read more...]

Financial advice for super: Is it worth the money?

You don’t have to get advice when choosing super funds, or when considering making extra super contributions, or for any other financial matters. If you do want advice however, do some research on reputable advisers.Advisers deserve to be paid for providing advice but you have to decide how you … [Read more...]