I have $175,000 in super and due to retire in 8 years. What’s the best way for me to grow my super?

Hi Martin,

It all boils down to a pretty simple formula:

Contribute regularly and as much as you can within your cash flow and your contribution caps

Take an appropriate investment allocation that you are willing to accept the risks (risk and return are related, to chase a higher return, you need to accept more risk)

Keep costs low.

Don't fiddle with it - investments are like a bar of soap, the more you touch it the smaller it will get.

All the best,

Glenn

I have seen people who make the decision to chase big returns late in their working life because they have had a look with retirement around the corner and figured out that there isnt enough in super to maintain the desired lifestyle.
Trouble is that the people who dont have enough in super are quite often the ones who can least afford to take a hit on high-risk, high-return investment strategies.
Some of the results of chasing big returns are too depressing to mention....
Its never too late to do something, but risk is a huge factor when you dont have time to recover from another GFC.....

Find an adviser who will take into account your WHOLE position: not just super, and think about putting together a plan that takes into account everything that needs to be considered for your retirement. Super is only ONE facet of this.
good luck

One thing that everyone needs to file away is that it is NEVER too early to consider how you are going to fund your retirement!!! If you start at 25, then you have an extra 30 years to get your house in order than if you start at 55. Thats 30 years of compound interest people. it cant help but make an enormous difference to your lifestyle.

cheers
Brendan