Why is personal superannuation undervalued?
Tuesday August 12, 2008
Personal superannuation is one of the most valuable assets that many people possess, yet so little is done for its development. Prior to the advent of compulsory personal superannuation, many people relied on pensions provided by places they worked for or else retirement savings. Nowadays, employers must contribute a minimum of 9% of an employee's income to that employee's personal superannuation, but this is just a good start at best.
Some people use a self managed superannuation fund in order to make more money for retirement, but that doesn't make it the only way of saving more in personal superannuation. Different types of superannuation funds have different advantages and disadvantages. An industry superannuation fund, for instance, will often have lower fees than a corporate superannuation fund, but may not have an investment strategy that appeals to you.
Please click on our ESUPERFUND sponsor banner if you are interested in using a self managed superannuation fund to improve the prospects of your personal superannuation.