Become Your Own Super Hero

Written on the 24 February 2015 by Janet Culpitt

Being a 'Super Hero' is not as hard as you think. We all make decisions in various aspects of our life, but we tend to put our head in the sand in respect to one of our biggest assets, our Superannuation policy and plans.

So how do we take control of our destiny when it comes to our own Superannuation?

The first step to becoming a 'Super Hero' is to ask yourself these questions:

• Are you an individual and need to be treated as such?
• Do you dislike being treated as just one of the heard and lumped in with everyone else?
• Do you know how and where your super is invested? (not just the name of the super plan but the actual investment strategy)
• Do you prefer (with guidance) to make decisions as to where your money is invested?

If you answered 'Yes' to all of the above you are already a 'Super Hero'.

If you answered 'No' to some or all of the questions and would like to know how to make them a 'Yes' then read on.

You can get smart and take control of that without having to do much.

You do have options:

Consider when you are planning a trip. You have a destination in mind but you need assistance to get there e.g. transport or directions. You don't just head off and hope you'll get there. And when you eventually arrive at your destination you are pleased that you researched and asked questions about how to get there and didn't end up getting lost along the way.

It is no different when it comes to your Superannuation. You don't necessarily need to do it all yourself, but you do need to know where it is going, not just live in hope that you might get there.

Most Australians have some form of Superannuation. It does not have to be standard for everyone, Super should be tailored to suit you individually.

Whether employer or employee it can be a mine field to navigate, which is why to so many people simply just ignore it and wish it would go away.

There was probably a time in your working life where something seemed too hard, but with the proper resources, training, guidance and help from others, the degree of difficulty undertaking the task was greatly lessened for you.

You work hard to earn your dollars so it is important that you make sure those dollars are invested wisely.

As with a trip you are planning it is important to know what you hoping to achieve. You don't want to be lumped into an age group category you might have different needs or want different things to others in your age group.

You are really smart and you can become your own 'Super Hero'.

Use the comments area below with feedback about the silent 9-10% of your earnings that is put in the compulsory savings (usually tax effective) area already.

Do you know where and how it is being invested and the annual return you are receiving?