Here are some simple but powerful tips to consider when building your retirement savings. Which ones will you add to your todo list before the end of this financial year?
The key points are as follow:
- 1. Make personal concessional super contributions
- 2. Receive the Super co-contribution
- 3. Check your eligibility for a low-income Super Tax Offset (LISTO)
- 4. Sacrifice your surprise earnings
- 5. Contribute to your spouse’s super
- 6. Gather your investment and work-related expenses
- 7. Prepay where you can
- 8. Plan how you’ll use your tax refund