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  1. #41
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    Not really.

    I did have about $2,000 from when I worked in hospitality briefly before starting our family and being a SAHM, but it's probably been eaten away in fees etc by now.

    BUT. I have made plans to boost up my Super once I return to work, to make up for all of the years I would have been a SAHM. This is something I take very seriously, I don't want to be left without any/much Super, I want to be comfortable when I retire.

    My plan, so far, is once I am working, hopefully in 2018 when DS3 is in full-time school and I have finished Uni, I will match my employers compulsory contribution for at least 11 years (which is the amount of time I would have been out of the workforce due to being a SAHM). This will allow me to make up the Super I missed out on over those years. If it's financially viable, I will continue to match my employers contribution until I retire.

    We also have other plans on how to manage things once I'm earning. We do currently make extra payments on our mortgage, and we're thinking that if we're still able to live off DH's income once I'm working, as well as me making extra contributions to my Super, we'll put whatever else we can spare into the mortgage, and pay that off ASAP. Once that is done, whatever income we can spare, will go into either more investment properties (we currently have one), or a high interest bank account. That way, we have other money we can use upon retirement - potentially for early retirement. But, they are all just plans at the moment, nothing concrete. We'll just have to wait and see what happens!
    Last edited by Lillynix; 09-12-2014 at 09:12.

  2. #42
    Gothel's Avatar
    Gothel is offline Skip the drama, stay with Mama!
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    Quote Originally Posted by purpleflowers View Post
    He tells me now that it's his super could you imagine of all the names that he would call me if that were to happen .

    Sent from my GT-I9505 using The Bub Hub mobile app
    He can say what he wants but you are entitled to his super. Staying at home to raise HIS children significantly impacted your income earning capacity. Huge hugs, it's not fair

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    heplusme  (09-12-2014),KitiK  (09-12-2014)

  4. #43
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    Yes. A compulsory one and my parents (god bless them) contribute to one so i get the govt co-payments. My brother has the same from them also. All in lieu of getting big inheritances from them when the time comes

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    Quote Originally Posted by purpleflowers View Post
    He tells me now that it's his super could you imagine of all the names that he would call me if that were to happen .

    Sent from my GT-I9505 using The Bub Hub mobile app
    If you split you halve assests which whether he likes it or not includes his super.

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  7. #45
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    As of last month, the last of my super has been taken in fees.

    I'm lucky that I'll still be young when I return to work (25ish) so I won't have missed out on too much.

  8. #46
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    Yes. My super is extremely important to me, and pretty much the only reason I have continued to work since having children when in reality I would much prefer to be a SAHM. I felt giving up my job (and therefore not accumlating any super) was a bad choice for our future, so I have continued working. I spend every day that I'm away from my children (3 days per week) wondering if it's the wrong choice, but as many times as I've thought to leave and stay at home with them, I've never been able to bring myself to do it.

  9. #47
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    Quote Originally Posted by dee1 View Post
    Sure do. It's incredibly important & people seem to be very uneducated when it comes to super.

    My hubby & I both salary sacrifice & have seen a financial planner to make the most of our super. Both my hubby & I should have a million dollars at retirement.

    We started salary sacrificing as a tax dodge as we earn $200k as a combined income.

    Super is an important investment & it's worthwhile seeing a financial planner, if you can't afford it, they can take their charge out of your super. They also aren't allowed to continue charging you a percentage fee each year like they were able to in the past, they can only charge one lump sum fee. I highly recommend it, a little bit of education & time now, will make a huge impact on how comfortably you retire.
    Very true and good advice.

    Dh and I have good supers and salary package too. We both have government super. Dh's years in the mining industry really boosted his super. It's comfort knowing we will be fine at retirement.

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    Quote Originally Posted by TeBe View Post
    It's a great point you make about a lack of super for sahm.

    Although, Super is not the only way to be comfortable in retirement. I am a sahm and we have almost paid off our mortgage and those of some of our investment properties with a view to using those (amongst other things) to fund our retirement.
    Agree there are other options, but DH and I are both professionals in the government so we don't earn a large salary, our wages don't allow us to have an investment property or pay off our mortgage particularly quickly, so we will rely in super.


 

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