Superannuation fund members in countries such as Australia are going to become more engaged with their balance, according to the US expert Donn Hess, but it is going to take some time. Mr Hess, who is head of strategy for retirement plan services at JPMorgan Asset Management in the US, based in Kansas City, said that in the US in recent years retirement had slipped down the list of top domestic priorities. “It’s now below daily financial concerns,” he said. “Some 70 per cent of Americans cite paying down debt and other day-to-day expenses as their primary financial priority and only 13 per cent say retirement savings are of top importance.” writes Andrew Main, The Australian, page 31, 1 Dec.
The question is, will you also let super and retirement drop in YOUR priority? What is your priority at the moment? Is debt and day-to-day your focus? There are 5 steps to plan for your financial future – Where are you now? What do you want to have? What will it cost to have that lifestyle? What do you need to have that life? What do you do now?
For a growing number of people, being proactive and getting informed is the first step, then taking control of your super is one answer. If you would like to learn what self-managed super (SMSF/DIY) is all about, come to a FREE seminar and get a Roadmap, including the steps BEFORE you decide, a step-by-step checklist of what to do to set up an SMSF, and a checklist of running your SMSF each year. See our seminars link top right.
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