Super: your neglected future

Superannuation Isn’t Boring—It’s the Secret to Your Financial Power

If you've ever glanced at your super statement and thought, "Nope, too hard," you're not alone. But here's the truth: superannuation is the quiet achiever of your financial life. It’s not flashy. It doesn’t give you instant gratification. But if you treat it right, it can be the difference between scraping by in retirement and living fabulously—think wine in Tuscany, not tuna in Tupperware.

In this post, I’ll walk you through the must-knows of super, why it matters especially for women over 40, and a few clever strategies you can use to catch up, save tax, and grow your future wealth starting today.

Why Super Deserves Your Attention

Superannuation is more than just employer contributions quietly piling up. It's your future income, your retirement lifestyle, and one of the most tax-effective ways to build long-term wealth in Australia.

If you're employed, your boss is legally required to pay 11.5% of your gross income into your super fund (that jumps to 12% from July). It might not land in your bank account, but it is your money.

And if you've been out of the workforce, on a career break, or juggling part-time work for years (hi, most of us), it's even more important to know where you stand and how to boost it now.

Know Your Risk Profile (and Why It Matters)

You know how some people love rollercoasters and others would rather die than ride one? Investing is the same.

Your risk profile is basically your investing personality. It determines how much risk you’re willing to take and helps guide your asset allocation—that’s the mix of shares, property, bonds, and cash inside your super.

Here’s a quick breakdown:

• Conservative (low risk, low return): Great if you’re about to retire. Not so great if you’ve got 10+ years to go.

• Moderately Conservative: A little risk, a little return.

• Balanced: A popular middle-ground with ~70% in growth assets.

• Growth: 80-90% shares and property. More ups and downs, but more long-term reward.

• High Growth: 100% growth assets. Best for the bold with time on their side.

If you haven’t reviewed your risk profile or super investment settings in the last five years, now is the time.

The Cost of Default Settings: Jen’s Story

Jen came to me in her early 50s. Divorced, on a good income, but she hadn’t looked at her super since she started her job 15 years earlier. When we reviewed her fund, 70% of her money was sitting in cash and bonds.

She wasn’t losing money—but she wasn’t gaining either. Inflation was quietly eating her returns. Once we realigned her portfolio to match her risk profile, she went from earning 3% a year to 7%. That change alone could add six figures to her retirement savings.

What Phase Are You In?

Super has two key phases:

• Accumulation: You’re working, contributing, and growing your balance. Taxed at 15%.

• Pension: You’ve retired, and now draw a tax-free income. No tax on investment earnings either.

There’s also an in-between strategy called Transition to Retirement (TTR). If you're over preservation age (around 59-60) and still working, you can access some of your super while reducing your taxable income. It’s a smart way to boost savings or reduce hours without reducing take-home pay.

The Carry-Forward Rule: A Catch-Up Hack

If your super balance is under $500,000 and you haven’t maxed out your concessional (pre-tax) contributions in the last five years, you can catch up.

Let’s say your annual cap is $30,000, but you only used $10,000 for the last few years. That unused $20,000 per year rolls forward for up to 5 years. That means this year, you could contribute extra and save on tax—without breaching your cap.

Client story: Samira, 45, went back to full-time work after raising kids. She used the carry-forward rule to contribute $45,000, saved $13,000 in tax, and finally felt like she was getting ahead.

Quick Super Audit Checklist

1. Log in to your super fund

2. Check your investment option & risk profile

3. Look at your asset allocation

4. Review fees, insurances, and beneficiaries

5. Check your employer contributions are actually being paid

If anything feels off? Talk to your fund or get advice. You can change it.

Let’s Make This Easy

You don’t need to be a finance expert to take control of your super. You just need a bit of guidance, a willingness to look under the hood, and a reminder that you are allowed to want more.

If you want help working out your risk profile, understanding your options, or creating a super strategy that actually works for you, book a Happy Hour session with me. It’s one hour, one-on-one, and we make it make sense—finally.