How to take care of your superannuation at any age
Anyone can achieve financial freedom.
While everyone has different ideas about what that means to them, and the pathway to achieving that freedom will differ, there’s one crucial part of wealth accumulation that we believe people need to pay more attention to.
We’re talking about superannuation, of course.
Your super is one of the best ways to build your personal wealth and secure your financial future, even if you’re far from retirement age and barely give a spare thought to your super.
The good news? You can start prioritising your superannuation at any age.
“Superannuation isn’t just a retirement account — it’s a long-term savings tool that benefits you from your first pay cheque to well beyond retirement.”
The early years of your career
When you’re in the early years of your career, you’re probably not using your superannuation to build personal wealth – in fact, you might not even know which super fund you’re with! But it’s never too early to start prioritising superannuation. Here are our two favourite tips for those at this stage of wealth building.
Set yourself financial goals
Retirement strategies look different for everyone, but a great place to begin is to think about what you want your lifestyle to look like when the time comes to retire. Some common goals include travelling, spending time on hobbies or just having enough in savings to live comfortably without needing to adjust your lifestyle. Knowing your own goals and having actionable pathways to achieving them is an essential step.
Start contributing early
You don’t just need to rely on employer contributions, and if you’re a sole trader or business owner, you can’t. So it’s worthwhile setting up a recurring contribution to your super account.
You’ll be capped at a certain level of personal contributions each financial year, though it may enable you to access valuable tax benefits. So if you’re already setting aside money in a savings account, consider rerouting that to hit your super instead.
If you’re on a salary, salary sacrificing can also be a fantastic choice. This entails diverting a portion of your pre-tax income into your super, simultaneously reducing your taxable income and your tax rate.
When you’re just starting your career, you’ll have other things on your mind. But prioritising your superannuation and implementing a growth-focused investment strategy is the cornerstone of a healthy retirement.
Mid-career strategic reassessment
Your mid-career years are typically when you have other financial priorities, such as paying off a mortgage.
At this stage, you can review your superannuation strategy to match any financial obligations, including debt reduction.
The right strategy will vary depending on your circumstances.
Some might require a more balanced approach that doesn’t include as much risk, while others might want to increase their risk while they’re still earning and adding to their super.
“Understanding how super works at every age gives you the power to make smarter decisions and build a better financial future.”
Approaching retirement
Once you’re in the later years of your career, you’ll need to consider transitioning to retirement. And this is where those who have neglected their super might start feeling nervous.
When you’re at this stage, take an in-depth look at your overall superannuation balance and compare it against any financial goals you’ve set. Your aim is to gauge whether you’re on track with those goals or whether you’re still far off.
Consider questions like “If you retired soon, would you be able to live comfortably off your superannuation?” and “If you had to stop working tomorrow, would it cause potential financial hardship?”.
The answers to these questions can indicate where you’re at, as well as provide a clear view of where you need to get to. As for any investments, now is the time to take a more conservative approach.
The goal in this stage is to protect your accumulated wealth rather than take unnecessary risks, primarily because your timeframe to regain any loss is much shorter than in previous years.
Finding expert support after retirement
Once you’re retired, ideally, you’ll want ample funds available through a consistent income stream to support you day to day. And when you’re at this stage, make sure you continually monitor your superannuation balance against your lifestyle to ensure you’re not spending more than is wise and adjust when you need to. Knowing how to manage your wealth properly both before and after retirement can be difficult, especially if you don’t have the time or knowledge to dedicate to it. Receiving guidance and advice from wealth management experts can guide you onto the right path – and keep you there.
North Advisory provides personal wealth services that support business owners, sole traders and everyone in between in learning wealth accumulation, wealth management and more.
Contact us today to learn more.
About the author
Marius Fourie - Director & Business Advisor
As Director and Business Advisor, Marius uses his accounting expertise and empathetic skills to work directly with business owners and help them feel at ease with their finances.
Marius saw a common need in clients that just wasn’t being met by accounting providers.
That need was for clear, open communication and streamlined accounting services that didn’t come padded out with any unnecessary features.
Business owners just don’t have time to compare different accounting firms to see which one has the best packages with the best inclusions (many of which they would pay for but never use).
Key Takeaways
Super Matters at Every Stage of Life
Whether you’re just starting work or nearing retirement, superannuation plays a key role in your long-term financial security.
Early Contributions Have a Big Impact
Making contributions early in your career allows compound growth to work harder, potentially boosting your final retirement balance.
Regular Reviews Improve Outcomes
Reviewing your super regularly — especially after major life events — helps ensure your strategy stays aligned with your goals.
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Frequently Asked Questions
Why does superannuation matter when you’re young?
Starting super contributions early gives your savings more time to grow through compounding, helping you build a stronger retirement balance over the long term.
Can I make extra contributions to my super at any age?
Yes — most people can make additional concessional (before-tax) or non-concessional (after-tax) contributions, provided they stay within the contribution caps.
Does super still matter as you approach retirement?
Absolutely. As you get closer to retirement, reviewing your investment strategy, risk profile and contribution levels becomes even more important to help secure your income in retirement.
How can life changes affect my super?
Events such as career breaks, starting a family or changing jobs can impact contributions and balances, making it important to review and adjust your super plan when life changes occur.
Should I get advice about my super?
Yes. Professional advice helps tailor strategies to your age, income and goals to ensure your super works as effectively as possible for your long-term needs.
What should I actually be doing with my super in my 20s and 30s?
At this stage, the focus should be on engagement — making sure your super is consolidated, invested appropriately for long-term growth, and not eroded by unnecessary fees or duplicate insurance.
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