A Practical Checklist for End-of-Year Financial Review
Superannuation
A Simple Guide to Super Beneficiaries
The end of the year often feels like a rush towards the holidays, but the weeks leading up to December are the perfect time for a quick, essential financial clean-up. A few hours spent reviewing your details now can save you money and stress when the new financial year rolls around. This simple checklist will guide you through the often-forgotten administrative tasks that ensure your money is working as efficiently as possible.
When you think about your superannuation, you probably focus on growing it for retirement. But have you considered what happens to it if you pass away? It’s a common myth that your super is automatically covered by your Will. In most cases, it isn’t. Your super is held in a trust, and the fund's trustee is responsible for paying it out. To ensure your money goes to the right people, you need to give the trustee clear instructions. This is done by nominating a beneficiary. Let's look at the fundamentals.