Top tips from our team
Here at Aware Super, we’re all dedicated to helping our members make the most of their finances and their time in retirement. Four of our team members, Andrew, Michael, Belinda and Cameron have come up with their best tips for looking after your wealth and your health before and during retirement.
Andrew Beer, Financial Planner
Have a purpose in life
“Having a clear purpose in retirement is really important. What I mean by this is, something that motivates you to get out of bed each day. This might be a volunteer position, continuing part-time work, starting a new hobby or looking after family/friends as a few examples. Many retirees that I speak to struggle with a loss of identity. Their job has previously defined them as people and without it they feel undervalued or lost. Having a purpose in life helps remind retirees how purpose vital they are to our communities and society in general.”
Michael Faehndrich, Advice Delivery Manager
Keeping exercising and get a good night’s sleep
“I’m often looking at longevity research and the things I keep coming across are related to sleep and exercise. Doing resistance training to maintain muscle mass becomes really important as you age but some cardiovascular training is also part of an exercise regime for good health.
I’m also really interested in the benefits of fasting and ice baths or cold showers as a way to reduce inflammation which can lead to all sorts of short and long term health problems.”
Belinda Lynch, Financial Planner
Consider making extra contributions
“As a Financial Planner I help people achieve their financial goals and have a better understanding of their finances. This includes educating clients on the advantages of super and what they can be doing during their working life to improve their financial outcomes in retirement. For SASS members I suggest checking on their points to make sure they are maximising their employer component of the scheme. It may be worth thinking about increasing their contributions as they can catch up their points or just accumulate more savings, as this can make a large difference to their overall benefit on retirement.”
Cameron Stewart, Financial Planner
Get the most from your super savings
“An important way to look after your financial wellbeing would be to get a good understanding of your super scheme. SASS is such a great scheme that needs some knowledge of how the scheme works to ensure you are getting the most out of your retirement savings. If you do not understand your scheme, you could be missing out on many thousands of dollars in your retirement.
Looking at the educational information on the State Super website is a good place to start. You can also attend an Aware Super webinar which can walk you through how your scheme works and give you a chance to ask questions. When you’re closer to retirement it’s really important to speak with a Financial Planner that has an understanding of how your scheme works.”