I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Women in Super Have Different Experiences to Men

Although we might all prefer to think that females and males are the same in regards to financing, females generally have different life experiences to men, such as:

• Earning less (typically).
• Living longer than guys (on average); which usually indicates women have to save more during retirement than the men or live a more modest lifestyle in retirement.
• Taking time out of the labor force to raise kids.
• Continuing to be the primary care of children from a marriage or other kinds of the previous relationship during a divorce or separation.
• Reducing or rescheduling work hours to take care of a senior parent, or moms and dads.

For the majority of ladies in their mid-fifties or older, not being provided the alternative of having an incredibly account till much later on in life, if at all.

The Major Difference

The major difference between a man and woman, when saving for retirement, is connected to the fact that the most popular method of saving for retirement is through Australia's superannuation or super system. The Australian superannuation system was created for a traditional male who worked full-time for 35 years and continued to be married to a single person for his entire life. If you do not fit into the conventional male definition of what they consider as a working life - and most women (and some men), don't - then you have to be more hands-on with your retirement preparation.

I have spoken to a lot of workshops where women in the audience would approach me after the discussion and state, for example: 'now I comprehend exactly what my superannuation savings can provide me - why didn't someone inform me about this earlier?' Other women would discuss that I talked their language, rather than the language of the money males.

It was great to get such positive feedback from seminar individuals, but I also thought that there was a genuine issue. Although the superannuation market is investing countless of dollars to motivate Australians to consider planning for retirement, there are still a lot of women who are not hearing the message. Although the government is offering tax rewards to save for retirement using a superannuation fund, many females are not making the most of these incentives. Why not?

I have operated in, or discussed, the superannuation market for 28 years, and the obvious answer to such question is now patently clear to me. Many women have not been following the plan for retirement message because the majority of the information readily available about superannuation and retirement is not targeted to females; rather, it is aimed towards some average person that seldom looks like a woman.

If this article captured your interest, you’d be glad to know that you can read more about it on www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

Loading PLease Wait..