Setting financial goals: steps to get started

Step 1: Check if you’re on track to retire comfortably

Use our Super Projection Calculator to see if you are on track for a comfortable retirement.

It shows you how much super you’ll have when you retire based on your current balance and contributions. It also shows how personal contributions and investment choices could improve your projected balance.

Need expert support?

You might find it helpful to do your calculations and planning with a professional planner. They can review your current situation and goals, and help you to determine just how much money you’ll need for a comfortable retirement.

If you don’t have an existing relationship with a planner, you can contact the Financial Advice Association Australia (FAAA) and access their ‘Find a financial planner’ service to locate a licensed planner near you.

Step 2: Help your super grow with extra contributions

Kickstart your super growth this year by looking into salary sacrifice and after-tax contributions. These contributions can really boost your super, putting you on track for a more comfortable retirement. Even small contributions today, can compound into further growth over time.

Step 3: Choose the right investment option for you

Did you know that if you’re with Super SA's Triple S scheme, you can choose from seven investment options¹, each with its own goal, time horizon, risk level and mix of investments? Balanced is the default option, but you can switch options or mix them to suit you. When deciding how to invest your super, consider:

• • • Your age
    • Your current financial position
    • How long before you retire
    • How long your super will need to last
    • Your attitude to accepting additional risk in seeking higher returns.

Investment Option	Goal	Risk
Balanced	Aimed at achieving a target rate of return of CPI+ 3.5% over 10+ years	High
High Growth	Aimed at achieving a higher target rate of return of CPI+ 4.5% over 10+ years	High
Socially Responsible	Uses socially responsible criteria aimed at achieving a target rate of return of CPI+ 3% over 10+ years	High
Moderate	Aimed at achieving a target rate of return of CPI+ 2.5% over 6+ years	Medium to High
Stable	Aimed at achieving a target rate of return of CPI+ 1.5% over 4+ years	Medium
Capital Defensive	Aimed at achieving a target rate of return of CPI+ 0.5% over 2+ years	Medium
Cash	Focuses on lower risk, but has lower potential long-term returns	Low

Step 4: Consolidate your super

If you have more than one super fund, consolidating them into one fund² could save you money and time and give you better control. Fewer super funds generally mean less fees, less paperwork, and easier management in one place. One in four Australians miss out on their share of billions of dollars in lost or unclaimed super. Save yourself from being one of them.

Step 5: Join an information session

Our webinars and seminars cover many different topics, from how much money you might need to retire to what you can do now to boost your super, and what government and tax incentives might be available to you. These sessions are led by our Member Education team who are experts at making complex topics easy to understand.

If you can’t come to us, we can come to your workplace! Ask your HR team to contact their Super SA Business Relationship Manager and we’ll make it happen.

Approaching 60? Consider a transition to retirement strategy

Transition to Retirement is a strategy that can help you ease into retirement. It lets you access a part of your super as income while you’re still working. This means you can reduce your work hours and supplement your take home pay or even grow your super. Unlike regular income, you can receive your payments whenever it suits you, and if you’re over 60, they’re tax-free.

And just like that, you’ve taken the first steps in thinking about planning and setting financial goals for your retirement. Remember, you’re not alone. We’re here to support you at any stage of your journey.