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Your Superannuation Explained, But With Dogs

Super dogs. Because it's good to think about your superannuation.

1. You know about super, right? It’s money your employers put away for you while you’re working, for you to live on when you retire.

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Your employer has to put a certain percentage of your income into your superannuation fund account for you to live on when you’re no longer working. It’s called the “super guarantee”.

2. Over the years, the fund grows, so that later in life, you'll have a nice ~nest egg~ saved up.

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Big nest eggs are what we want when we retire.

3. But keeping track of your super can be difficult.

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And it's so easy to forget about, given it's money we won't see for a while.

4. If you've had more than one employer, you might have money sitting in more than one super fund.

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This is not always a good thing.

5. You might have super sitting in an account that you don't even know about.

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Like from your first job years and years ago, when you probably hadn't even heard of superannuation.

6. Having your money spread out across multiple accounts means it will take longer for your money to grow.

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You'll be charged fees by each super fund...so more super funds = more fees! And fees are bad.

7. Which means you could be working hard all your life only to realize later on you could have saved a lot more money!

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That's why it's important to start thinking about your super early.

8. A lot of people recommend rounding all that money up and putting it in one fund.

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That way you pay fewer fees, can watch it grow, and when you start a new job, you can ask your employer to pay your super into that fund.

9. Once you've gotten rid of super accounts you don't need, it'll be easier to keep track of your money.

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Money in your superannuation account is invested by your super fund, so you can watch it grow.

10. You'll also be paying fewer fees, which means more super for your future.

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More money in your future sounds pretty damn good.

11. So you can go on enjoying life, knowing that you're doing your future self a big favour.

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Because the good thing about your super is, it works for you while you're off living your life. Most of the complicated stuff is taken care of.

12. And how super is that?

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Sorry not sorry. But seriously, think about your super. It feels good to be organised, and to save money on fees!

So go and check your super with myGov.

MyGov is a free and easy way to check your super accounts, track down lost super, and transfer all your super money into one fund. For more information go to ato.gov.au/superonline.