Top up your Super

With the current state of the financial markets and the world economy, there is a temptation to:

• Stop investing in Super
• Reduce your Super investment
• Change your Super investment options to Cash

This may not be a good idea! Before you do anything with your Super - make sure you speak to a financial advisor. Believe it or not, now may be the best time to invest a little more in your Super either through salary sacrifice or personal contributions.

Here is the "lay person's" view..... The Super funds linked to markets are not performing too well at the moment and most of us have seen our Super funds reduce dramatically over the last 12 months. Well as with all market investments - buy low is the name of the game. Adding a little more into Super now - when the markets are low - may lead to much better returns in years to come as markets recover.

Obviously this is a long-term strategy, but it's worth thinking about and worth discussing with your financial advisor.

Make sure you ask your planner about the advantages associated with Salary Sacrifice or Personal Contributions. If you are a low income earner you may be eligible for Government Co-contributions or by using Salary Sacrifice you could reduce your overall tax liability. Your planner or accountant will be able to advise you on the best options for you.

Buying extra Super units now could be a winning formula when you retire.