SuperGuide

Superannuation and retirement planning information

Why it can pay to put as much as possible into super

Why it can pay to put as much as possible into super

As the retirement day of reckoning looms, it’s common for Australians of a certain age to regret not putting more into their super earlier on.

While recent changes to the super rules make it easier for older Australians to continue contributing to their super account until they turn 75, that doesn’t alter the fact that the sooner you start the better. Why?

Tax efficiency and compound interest, it’s that simple.

Learn about contributing to super in your 60s and beyond.

The power of compound interest

You have probably heard that Albert Einstein described compound interest as the eighth wonder of the world. Thankfully, you don’t have to be a genius to take advantage of it.

About the author

Barbara Drury

Barbara is a financial journalist and author with over 30 years’ experience in Australia and the UK. She is a contributor to The Sydney Morning Herald and The Age Money section, and has worked for the Australian Financial Review and The Australian.

Barbara is the author of Alan Kohler’s Eureka Report Guide to Personal Investing, Sorting Out Your Finances for Dummies and Personal Finance for Dummies and co-author of Investing for Dummies with James Kirby.

Learn more about super contributions strategies in the following guides:

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Retirement planning Retirement planning strategies

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