First post, i am about to complete my degree in commerce, and go into full time employment for the next few decades. I was just wondering what's a good super to be with. Im young so i have a lot of time to my super to grow.
24 Years Old, Which Long Term Super Do I Choose?
Comments
IMO, just pick the one with the lowest fees. The policies around it can change a lot by the time you can access it.
Not worth spending time and effort to manage it until you have enough in it to do SMSF.
As said above:
Relatively low fees
Highest risk/volatility growth strategy (depends what they call it)It's almost impossible to pick the "right" superfund because of a range of factors including the most important one: past performance is not indicative of future returns.
Lowest fees + Highest growth option.
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Your new employer will have a recommended one. Usually it's a pretty good choice.
How do you figure that?
This is incorrect. Do not simply choose a fund that your employer has. Complete rookie error.
Agreed.
Should've been clearer, after speaking with my parents and my accountant I decided the company chosen super fund would suit my needs.
Try Hostplus
australiansuper
there are many things to consider as there are many options.
how do you plan to increase your super?
what contributions are you planning?
planning to chase the alpha when the balance builds up or stay with indexes and passives?
Would you want control or transparency or related services?
Or perhaps insurances as well? what's your work / industry / occupation?
do you want to control taxation within super?
what investment risk profile to use?
want diversification via shares, bonds, ETFs, LICs, or merely single sector or multi sector managed funds, term deposits and cash?
invest in domestic or international investments?
how badly do you maximize it's growth?
industry super funds don't always have the transparency or appropriate personal insurances or features.
retail super may over-promise and/or under-deliver but have features personalized to the occupation.
ever considered super contributions are not the only way to build super sooner…
ever wondered that cost is not always relevant when the returns are potentially higher.
or that low fees do not guarantee preservation of capital.For starters, read up: https://www.moneysmart.gov.au/superannuation-and-retirement/…
Then compare using: https://www.chantwest.com.au/fund-ratings/superOnce you commence working, seek personal advice from a non-aligned or independent or boutique adviser;
Or simply message me and i can to point you in the right direction(s) :)You say "ever wondered that cost is not always relevant when the returns are potentially higher".
I think it would be more accurate to say "cost IS always relevant when the returns are NOT ACTUALLY higher. Potentially higher returns are meaningless when they come at an actual cost. That's why retail funds rarely out-perform major industry funds.
Industry Superfunds have a history of out performing out superfunds (historic measures aren't always an indication of future performance).
At your age set the Superfund to invest in riskier portfolios - then change it to balance as you age / progress into your career.