Should you make additional super contributions?
Employers must contribute 9.5% of your salary (up to a maximum of $20,050 p.a.) into super. But should you make additional super contributions? This is a question I’m asked regularly.Of course, like many financial planning matters, the answer does depend on your individual circumstances. However, there are some fundamental concepts that help us understand whether additional contributions are going to help you achieve your financial goals.The power of starting earlySusie is a 30-year-old earning a salary of $100,000 a year. Therefore, she is already contributing $9,500 per annum into super…
The skinny
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