CASE STUDY: CASSIE STARTS OUT

Cassie, 24, works full time at Watersea Shire Council, and earns $30,000 a year. The council pays her super into Vision Super. Cassie also has super accounts with Super Funds A and B from previous casual jobs.

Cassie maximises her super by doing the following:

1.	She rolls over her super from Fund A and Fund B into her Vision Super account. This reduces her super fees and maximises the effect of compound returns on her capital.
2.	She contributes $20 a week into her super ($1040 per year). This gets her a matching contribution of $1000 from the Government at tax time.
3.	She chooses the super investment option that matches her comfort level with investment risk. Because she is younger, she chooses a more growth-oriented investment option, as her super has more time to overcome short-term volatility.

At age 35, Cassie's salary has increased to $65,000 and she no longer qualifies for the Government Co-contribution. Her priorities have also changed.

Cassie now takes different approach:

1.	Cassie salary sacrifices $80 a fortnight ($2080 per year) into her super. This diverts money from her tax into super and reduces her assessable income. Salary Sacrifice boosts Cassie’s super while she is working so her savings won’t suffer when she takes a career break to travel or start a family.
2.	She also increases her insurance as she looks at buying a house and starting a family.
3.	She reviews her investments with her current life stage in mind. Because she plans to retire in 30 years, Cassie’s super has three decades to overcome short-term volatility. She decides to retain her growth-oriented investment option.

Cassie's recipe for financial success

As her life changes, Cassie adjusts her super to take advantage of the strategies she is eligible for. This significantly improves her assets and financial security.

For more information or assistance, please call our friendly Member Services team on (03) 9911 3222 (regional callers 1300 300 820)or email us.

Please note: For the purposes of the Government Co-contribution, total income includes all assessable income for tax purposes (i.e. wages, share dividends etc., as well as reportable fringe benefits).

CASE STUDY: CASSIE STARTS OUT

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