Is your super working for you?
How are you planning to retire? Probably, comfortably on your superannuation.
The average super balance required today for a comfortable retirement is around the $415,000 mark. Yet, according to APRA, the average super balance for 60-year-old Australians on the cusp of retirement is $198,482 for men, and just $165,986 for women. This puts men and women at a deficit of -$216,518 and $249,014 respectively.
Not exactly the comfortable, enjoyable retirement most dream of. Women in particular are at a disadvantage, as various factors, including the flexible working patterns of mothers, contribute to their lower super figures.
Did you know the fastest growing homeless group in Australia is women over 55?
However, there is one option to ensure you have enough money for retirement, and that’s using a Self-Managed Super Fund to buy property.
In fact, 50% of our clients here at DDP buy investment properties using their superannuation.
Many Australians are realising the power of using their super to work for them, instead of leaving it alone and hoping for the best. Because often, that strategy ends in disappointment.
Your superannuation is likely to be your largest life security safety net, if not second behind your own home. Once we’ve gone through the benefits with our clients, it often doesn’t take long for them to get excited about using their SMSF effectively.
You can even set it up with your loved ones or trusted friends, and pool together your superannuation for even more purchasing power. This will allow you to enter higher in the market and procure the safest possible investment.
With so many of our clients using their SMSF to build their wealth, we can show you exactly what you need to do to get involved before it’s too late. If you’re ready to set yourself up for that comfortable retirement you’ve always wanted, get in touch with DDP.
Contact us today to book your personalised appointment and get your super working for you.