Should you be considering a super contribution strategy as a tax planning measure in your 30s and 40s?

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In this episode, Mena and Stuart explore whether making additional super contributions in your 30s and 40s is a smart tax planning move or a potential limitation on your financial flexibility. They break down the compelling benefits of contributing extra to your superannuation, including tax savings of up to 30% for high earners, the power of compounding over decades, and the ability to carry forward unused concessional caps for strategic top-ups. They also highlight super splitting with a spouse as a savvy way to equalise balances and improve future retirement outcomes.

However, it’s not all upside. The duo cautions that superannuation is illiquid; once it’s in, you can’t touch it until retirement age. They discuss how locking away funds could limit options for home upgrades, education, or business ventures. Listeners will also hear about alternative strategies, such as reducing debt or investing outside super, which may better align with medium-term goals.

Mena and Stuart advocate for a balanced, personalised approach: combining long-term super growth with short-term flexibility. If you’re juggling competing priorities like career, kids, or property, this episode offers timely insights and a strong case for seeking quality financial advice.

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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.