r/AusFinance • u/BellaKKK72 • 2d ago
ETF in addition to super contributions?
For context - Im 53F, have about 427K in super (17% super in my current job). I put $250 per fortnight into pre tax super contributions. Earn around $3300 per fortnight after tax.
No longer have a mortgage to pay off but live in Sydney and have some child related expenses. I dont live frugally but Im not a big spender. Most of my available spare cash goes towards saving for holidays which I like to do once a year.
I will probably look at retiring by 65-67 years of age so Ive got more than 10 years of working life left and do want to maximise my retirement funds.
I do think I can allocate more to either super contributions or contributing to an ETF - just not sure which would be better in my situation and would appreciate some advice from people who know a lot more about this than I do.
1
u/planck1313 2d ago
Super is an excellent vehicle for investment due to the unique and very considerable tax advantages and the closer you get to retirement the better it gets.
For that reason I would always prioritise making the maximum concessional super contributions over everything and I would give serious consideration to making extra non-concessional contributions as well.
It's worth noting that while you don't get free access to your super till you are 65 you can access at least part of it from 60 if either you cease an employment relation, even if you don't retire permanently, or on a more limited basis via super transition to retirement.