Ok ok, so the headline is a bit of a dad joke – but you’re the one who clicked on it!
Working on your super fund really is a lot more fun than it sounds. Think of it as a plant. If you water it and care for it you get the joy of watching it grow. Unlike the daisies you continue to buy however, your super funds won’t suddenly shrivel up and die off for no good reason.
Here are just a few reasons why planning your retirement savings shouldn’t be lumped in with the boring parts of growing up like power bills and grey hairs.
Watch it grow
There’s currently around 11.5 million employed Aussies around the country, according to the Australian Bureau of Statistics, and (from July 2014) most of these workers will be getting 9.5 per cent of their salary payments paid into a super fund by their employer. Without doing much more than simply holding down a part- or full-time job, many Aussies can track their superannuation savings and watch the fund grow with every payday.
Is it growing fast enough for you? Think about boosting your fund with something a little extra by way of a personal contribution any time you like and help to keep expanding that nest egg.
Start planning your retirement
Yes, it might be a long way away, but you can dream.
Think about all the cool things you might do – is there a place you’ve always wanted to settle down? Perhaps that’s when you’ll take up salsa dancing, or painting classes? Maybe you’re going to give up the life of a landlubber and retire on a boat?
Making a list of the kinds of things you want to do and see in retirement will help you stay focused on that superfund as well, and perhaps make it a little easier to part with some of your salary if you decide to salary sacrifice. Remember it’s not goodbye to your salary, it’s ‘see you later’.
Make goals, meet goals, feel good
Early adulthood is a time for making goals and learning how to work to meet them. Sometimes that’s getting out of bed in the morning and sometimes it’s cooking a meal with more than one vegetable on the plate. Every now and then it’s something bigger, like saving another $1,000 in your superfund by Christmas.
Making and meeting a goal comes with a huge sense of accomplishment, and while it might only be your mum celebrating with you, a financial goal is always a good way to help yourself out for the future.
Play puppet master with your superfund
Your superfund is a bit like those Transformer toys you played with as a kid – or still play with – in that you can change them around as you like.
You get a lot of control over where you want your funds invested. With Virgin Super Plus you can mix and match your investment options, or if you prefer you can opt for Virgin Super Essentials, which does all the hard work for you.
Having this sense of control is a lot more fun than simply stashing your money away and leaving it to do its own thing, and it may help you keep on track with your retirement savings goals.
There you have it – four ways saving for retirement is more fun that you’d expected, and probably easier than keeping those daisies alive. No green fingers required.
Are there any parts of saving for retirement that you’re enjoying?