Are you a Super Dad?

Published 3 September 2021

Every parent wants to give their child the best future possible.

Having kids changes the way you view your financial future. They can come with big expenses, like school fees, medical bills, maybe even moving to a larger house, and other unexpected costs. Planning ahead can be hard. 

However, protecting your financial assets and ensuring a stable and financial future is one of the best things any parent can do for their family.  

With Father’s Day this weekend, we put together our top tips for managing your superannuation as a ‘Super Dad’. 

Support your spouse

You can help your partner grow their retirement savings by making a spouse contribution directly to their account.

It’s no secret that having a child disproportionally impacts the super balance of the primary care giver, who often takes extended parental leave or switches to part-time work to take care of their family. 

Unfortunately, this can mean that the primary care giver is more likely to retire in a less financially secure position than their spouse.

Helping your partner to grow their super means you can both enjoy a stronger financial future.

Understand your options

Having a family changes your financial situation, goals, and your appetite for risk. 

Our fund has a range of investment options to choose from. 

• Conservative options have a lower level of risk, delivering lower returns over the long term. 
• Growth options have a higher level of risk, aiming for higher average returns in the long term.
• Balanced options aim for reasonable returns in the long term, with risk levels in between conservative and growth options.

Seek financial advice

Deciding what is best for your financial future and investment approach can be challenging. Our team of financial advisers can help you consider different ways to grow your super and make informed decisions around contributions, insurance, tax savings and investment options.

To decide how much financial advice you need, members can have a 30-minute Super Health Check, at no additional cost, by calling 1800 444 396. 

For comprehensive, tailored advice, suited to your personal situation and financial goals, we have a team of qualified financial advisers ready to help. Visit our financial advice page for further information.

Investing in your super is important for ensuring your family enjoys a secure financial future. 

We’d like to extend our wishes to all the father figures in our communities and wish you a happy Father’s Day.