Retirement savings options

Saving for retirement is crucial to ensure you can live the life you want once you stop working, and how you generate those savings will make a big difference to your financial security. At Commonwealth Financial Planning, we can help you navigate all of the retirement savings options available to you and recommend the right strategy to help you achieve your unique goals for retirement.  

Superannuation

Superannuation offers a variety of tax advantages to encourage you to save for your retirement.

There are four main types of super funds, each of which offers unique benefits:

• Public offer funds (e.g. retail funds)
• Corporate funds
• Industry fund
• Self-managed super funds

You might also consider alternatives such as the Commonwealth Bank’s Superannuation Savings Account, which works just like an everyday bank account, except it accepts super contributions. It offers the same tax advantages as saving in superannuation, and your money is subject to the same restrictions (e.g. when you can access your super).

If you are saving into super, you can use smart strategies such as the government co-contribution and salary sacrifice to help grow your nest egg.

Investments

As well as saving in super, some people like to build a strong investment portfolio. While investments don’t generally offer the same tax benefits as superannuation, they can offer more control, and you can access your money whenever you like.

There are many different types of investments to choose from, from relatively safe products like bonds and term deposits to growth options such as shares and property.

If you don’t have the time or investment experience to invest directly, you might consider investing through a managed fund, where professional fund managers look after your money.

If you’d like advice on how to save for retirement, you can book an appointment online to organise a complimentary, no-obligation consultation with a Commonwealth Financial Planner, and start planning for a better life today.

• Important information
  The information contained on this web page is of a factual nature only and is not intended to constitute financial product advice. It has been prepared by Commonwealth Financial Planning Limited without considering your individual objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual needs before making a decision based on this information. Commonwealth Financial Planners are Representatives or Authorised Representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169, AFSL 231139, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.