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From putting aside super for your future, right through to budgeting for next week – getting the basics right today can make a big difference to your tomorrow.

Investment tips for those just getting started with super

Investing to grow your super

Once you’ve been working and contributing to your super for several years, your ‘nest egg’ may be starting to look a little more substantial. At the same time, you’re more likely to be earning a higher income than when you first started working. Let’s look at how those two factors can come together to help you build your wealth over these important years of earning and growing your super.

A word on what’s right for you

On this page we provide tips and information about building your wealth through super. But keep in mind that it’s information and general advice only. Exactly which investments and which approach is right for you will depend on your own circumstances and the goals you have for your money – today and in future. For information and advice that’s tailored to your financial circumstances and objectives, consider getting  financial advice.

More about super and how it works

Want to know more about super as an investment and how super works?

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Investment time frame plays a significant role in determining the types of investments that are right for you. Some investments are better suited to investing over shorter time frames of just a few years or so, while others are better suited to longer periods of say seven to 10 years or more.

You may have been working for a decade or more, but you’ve still got plenty of time to focus on building your wealth through your super investments.

So while one day it will be important to look at your investment choices in terms of how long you’re expecting to be in retirement, for now, it’s likely to be more important to focus on how long you’ve got to keep growing your investment and building on the foundation you’ve already established for your retirement savings.

At this stage in life, your super investment portfolio is likely to be more heavily weighted towards growth assets rather than defensive assets. Growth assets include investments such as Australian and overseas shares. They tend to offer higher returns than defensive assets (which include cash and fixed interest investments) – especially over longer timeframes. It’s important to note, however, that they also come with a higher level of risk.

But with decades of investing still between you and retirement, you’re generally in a better position to ride out the ups and downs that can be associated with investing in growth assets over shorter time frames. And more likely to enjoy their potential for higher returns over the long term.

Over the years, your super investment will ideally have been steadily growing thanks to ongoing contributions from your employer, as well as the effect of compound interest.

But there are other strategies you can try to help build your super investment. For example, particularly if your income has increased over the years, you may find you’re in a position to try boosting your super investment and your earning potential by making additional contributions to your super account.

The investment options you choose for your super and retirement savings can make a significant difference to the type of lifestyle you get to enjoy in retirement. The choices you make for your super investments today will probably differ from the choices you make when you’re getting closer to retirement.

When deciding how to invest your super, it’s important to take your own financial needs and circumstances into account, as well as your retirement goals.

You don’t have to make an investment choice for your Catholic Super account. If you don’t make an investment choice, we’ll automatically invest your account balance in the MySuper investment option if you’re a MyFuture member. MySuper is a ready-made portfolio of investments, selected by the experts, and managed by the experts on your behalf.

Looking for an investment option designed to have higher exposure (compared to the default MySuper option) to investments that have been selected based on their alignment to certain environmental, social and governance (ESG) criteria?

Our Future Focus investment option invests mainly in growth assets such as shares, property and infrastructure, with the balance invested in more stable assets like fixed interest and other defensive assets. ESG factors are considered when investing. 

Calculators

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How do your super savings compare? Enter your details to see how you are tracking, and compare average savings for your age group.

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Retirement calculator

Our industry-leading retirement income calculator enables you to estimate your projected super balance and how long it may last in retirement.

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Could you benefit from advice?

Whether you’re new to the workforce or already planning your next chapter in retirement, a qualified financial planner can help you get more from your super and prepare for retirement.

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