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115. Young and Considering Superannuation
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Welcome back to another episode of the 360 Money Matters Podcast!
In this episode, we discuss a listener's query regarding factors to consider while contemplating superannuation at a young age. We emphasize that starting early and making small extra contributions regularly can make a huge difference.
Additionally, we clarify that a superannuation trust provides tax benefits and compound returns over time by retaining investments until retirement age. However, a drawback is its lack of liquidity. Finally, we emphasize the significance of striking a balance between long term planning, tax benefits as well as liquidity. In addition to this, we will look at what you should be considering when assessing whether a superfund is right for you or not.
Secure your financial future now! Dive into our latest episode for key insights on early financial planning, superannuation benefits, and striking the right balance. Don't miss out – listen today!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights
Importance of superannuation in financial strategies
What is superannuation and its purpose
Benefits of superannuation for long-term investment
Considerations for superannuation strategy
Tax implications and deductibility of contributions
Building an investment portfolio
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