Taking Time Off? How to Close the Gap

"I find that it helps to break down the big picture into smaller achievable tasks and to recognise and celebrate these achievements along the way."
-Katherine Hann
June 15, 2017

Taking Time Off? How to Close the Gap

By Katherine Hann

Taking Time Off? How to Close the Gap

Whether taking a break from the workforce to start a family or to care for a loved one, one of the disadvantages you face is a lack of superannuation contributions.

But exactly how can you achieve this if you aren’t earning an income?

The following article by nestegg gives 3 great tips to boost your superannuation. 

1) Catch-up contributions after you return to work

2) Spouse contribution tax-offset 

3) Spousal splitting 

Have a read of the article here for more details, keeping in mind that a spouse isn’t just a person you are married to,
a spouse is a domestic partner that you live with (for more details check the government legislation for your state). 
Many people don’t think about super until right before they retire- and by then there are limited options. It is important to take action now if you wish to have a financially secure retirement.