{"id":1580,"date":"2022-12-01T22:30:09","date_gmt":"2022-12-01T22:30:09","guid":{"rendered":"https:\/\/blog.villages.com.au\/?p=1580"},"modified":"2022-12-01T22:32:15","modified_gmt":"2022-12-01T22:32:15","slug":"grow-your-super-on-your-own-the-earlier-the-better","status":"publish","type":"post","link":"https:\/\/blog.villages.com.au\/money\/grow-your-super-on-your-own-the-earlier-the-better\/","title":{"rendered":"Grow your super on your own \u2013 the earlier the better"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1580\" class=\"elementor elementor-1580\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-08659bd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"08659bd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-63b042c\" data-id=\"63b042c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b594912 elementor-drop-cap-yes elementor-drop-cap-view-stacked elementor-widget elementor-widget-text-editor\" data-id=\"b594912\" data-element_type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>A<strong>re you making voluntary contributions to your superannuation? When it comes to retirement, every little bit helps<\/strong>.<\/p><p>According to an Equip Super survey of more than 2,000 Australians, 46% have made voluntary contributions to boost their super savings \u2013 and of these, 65% made their first voluntary contribution before they turned 40.<\/p><p><strong>The earlier you make a voluntary contribution, the more you\u2019ll benefit from the compound interest it provides, which will continue to grow your savings over the course of your career. <\/strong><\/p><p>Not only that, if you make contributions directly from your wages before tax \u2013 known as salary sacrificing \u2013 you\u2019ll only be taxed on those at 15%.<\/p><p>62-year-old Queensland-based laboratory technician Claudette Younger says that, with the help of a financial planner, she and her husband have been able to set themselves up for retirement in the next few years and finally pay off their home loan.<\/p><p><em><strong>\u201cWe\u2019ve both been on relatively good salaries for many years, and I\u2019ve been making salary sacrifices to my super for most of my career. My employer offered that option when I started the job, which I think more workplaces ought to do. But, like many people, my husband has never made contributions on top of his employer\u2019s,\u201d<\/strong> <\/em>said Claudette.<\/p><blockquote><p>\u201cMy husband now has a plan in place to make voluntary contributions to his super in a way that is beneficial taxwise. We both feel so much more in control and excited about retirement now.\u201d<\/p><\/blockquote><p>For more information on salary sacrifice and other voluntary super contributions, <strong><a href=\"https:\/\/www.ato.gov.au\/Individuals\/Super\/Growing-your-super\/Adding-to-your-super\/\">visit the Australian Tax Office website<\/a><\/strong>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Are you making voluntary contributions to your superannuation? When it comes to retirement, every little bit helps. According to an Equip Super survey of more than 2,000 Australians, 46% have made voluntary contributions to boost their super savings \u2013 and of these, 65% made their&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"_mi_skip_tracking":false,"footnotes":""},"categories":[71],"tags":[77,95],"class_list":["post-1580","post","type-post","status-publish","format-standard","hentry","category-money","tag-financial-advice","tag-tips"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/comments?post=1580"}],"version-history":[{"count":4,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1580\/revisions"}],"predecessor-version":[{"id":1585,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1580\/revisions\/1585"}],"wp:attachment":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/media?parent=1580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/categories?post=1580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/tags?post=1580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}