BENEFITS OF HAVING A PLAN

BENEFITS OF HAVING A PLAN

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No matter what stage of life you’re in, there’s never been a better time to plan than now – and we can make it easy for you too.

And if you’ve already got a plan, it’s always a good idea to make sure you’re still on track, especially if your circumstances have changed. For example, if you’ve have kids, been made redundant or changed jobs, or you’ve recently come into some extra cash, it’s worth getting some expert help in reviewing your plan to make sure it’s still right for you.

From our Helpline Advisers# to our Financial Planners*, we can help you with personalised contribution strategies and ways to boost your super, working out how much insurance is right for you, choosing the best investment option for your needs, and planning how much super you’ll need for retirement and how to get there.

As a valued member, your first consultation with a Media Super Financial Planner is at no cost to you and without any obligation. This initial consultation will help the planner understand your needs and help you understand how they may be able to assist you.

Your planner will only suggest you seek advice if they are confident that it will improve your situation and is in your best interest. They will provide you with a fixed price quote for your consideration for any advice they may recommend.

Alternatively, if you don’t think you’re quite ready to get personal advice, we have a variety of resources to help you learn more about your super, insurance and retirement.

Click on the images below to read more about the benefits of planning at any stage of your life.

She’s working her first full-time job, and has several super accounts from various part-time jobs she’s had since high school.

Things to consider:

  • Finding and combining her multiple super accounts.^
  • Putting a few extra dollars into her super each pay (even $5 a week can make a difference over decades).
  • Investing in a growth option.

They’re trying to save a house deposit and are thinking about having kids in the next few years.

Things to consider:

  • Developing a joint contribution strategy that allows them to save for a deposit and plan ahead for her maternity leave (as she may not receive super from her employer).
  • Checking they have the right level of insurance cover to​ keep a roof over their heads and food on the table if something happened.
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They have a mortgage and car loans, as well as day care costs a couple of days a week.

Things to consider:

  • Updating their contribution strategy to align with their changed circumstances.
  • Checking they still have the right level of insurance cover because with added financial responsibilities they may need to adjust their cover.
  • Set up binding nominations for account beneficiaries.
  • Reviewing their investment options to make sure their choices are still right for their current life circumstances.

They’ve realised retirement is getting a little closer and they’re not sure if they’ll have enough money as they’re still paying their mortgage, plus loans and school fees.

Things to consider:

  • Reassessing their retirement goals – are they still right and realistic?
  • Assess how they’re tracking and possibly update their contribution strategy.
  • Review their investment options as they may want to move to a balanced or less risky (lower growth) option.
  • Checking they still have the right level of insurance cover for their current circumstances.

Retirement is starting to feel ‘real’ and they’re looking forward to their life after work.

Things to consider:

  • Are they on track to reach their retirement goals and, if not, what can they do to top up.
  • Would a Transition to Retirement pension suit their financial situation now or in a few years?
  • Review their investment options because it may be time to consider a more stable option to preserve capital.

They’re enjoying retirement, spending time with family and friends, doing a little travelling and helping to look after the grandchildren. They moved their super to pension accounts when they retired and draw a regular income.

Things to consider:

  • Where do they invest the proceeds if they sell their home – pension accounts or other investments?
  • What effect this decision will have on their assets and income, and the impact on tax, Centrelink and the Age Pension.
  • Review their investment options to make sure their retirement savings will last.
  • Ensuring they have binding nominations for beneficiaries set up and, looking further, making sure their wills are up to date.
* Media Super has engaged Industry Fund Services (IFS) ABN 54 007 016 195 AFSL No 232514 to facilitate the provision of financial advice to members of Media Super. Advice is provided by one of our Financial Planners who are Representatives of IFS. Fees may apply. Further information about the cost of advice is set out in the relevant Financial Services Guide, a copy of which can be obtained by calling IFS on 1300 138 848. IFS is responsible for any personal advice given to you by its Representatives.
# Helpline consultants and Helpline Advisers providing general or limited advice are representatives of Mercer Outsourcing Australia Pty Ltd (MOAPL) ABN 83 068 908 912, AFS Licence 411980.