Once upon a time...
We would like to share with you the super world's 'dirty little secret'
Most retail superannuation funds have a contribution fee and an annual commission called a 'trail'. Think of you and your super like a fairy tale. You’re a fabulous hard working character that's looking forward to a fun-filled retirement.
You have a bag where you put all your hard earned peanuts (hey, it's a fairy-tale so we didn't want to call it money). The first time you put peanuts in your bag, a huge handful falls out the bottom and is immediately gobbled up by a greedy little pig.
You don't notice. You just keep working hard and leaving a 'trail' of dropped peanuts. In fact, you’re working so hard that you don't notice the peanuts falling out. As fast as they fall, the pig is eating them.
The greedy pig doesn't help you or give you any advice. Why would he?
Unless you act now and make some changes to your super, don't expect a fairytale ending come retirement time! You will have fewer peanuts, and as for the greedy pig, well, he will be considerably fatter.
Who are AllMyFunds?
AllMyFunds is a financial planning company with access to all the major super funds. We are not owned by any super fund or fund manager and as such, we are well placed to keep the greedy pig out of your super!
We provide four super services:
1. Free Risk Profile
What is a risk profile?
There are six approaches to investing in super and these are called risk profiles. They are High Growth, Growth, Balanced Growth, Balanced and Conservative.
Each of the six approaches has a different mix of assets. For example, if you are an investing dare-devil, you would choose Growth or High Growth which means that your fund would have a greater amount of shares and property in its investment mix and those asset classes typically have a higher return (think of it as a savings account earning between 8.5% and 9.0% per year)
Or, if you are the Conservative type, you may want most of your money in cash and would be happy with a return of 6.0% per year.
If you have never done a risk profile before (and most people haven't), you may well have your super in the wrong risk profile for you!
Find out how much of an investing dare-devil you really are and determine your risk profile for free now.
2. Super Checkup Report
(or "statement of advice" in financial speak)
This will show you everything you need to know to finetune your super and see if you have a greedy pig feeding off your hard-earned money.
The report shows you where you are now with your super, how much per week you will get if you do nothing (that's an eye-opener for most people as it's often less than 50% of your current salary, see the example on the front page of our site) and some options for you to consider so you can get the most of your superannuation. You don't even need to change from your current fund.
3. No Commission Report Service
If you have a greedy pig in your super you will need this!
The pig could be taking up to 5% of every dollar this is put into your super, including the money your employer puts in everyw eek for you, as well as up to 1% on your super account balance, every year. As an example the pig in Alicia's super (on the home page) is getting $6,600 this year, a total of $13,200 next year and a total of $19,800 the year after that... well, you get the picture!
4. Consolidation Service
It's a hassle. You've had a number of jobs over the years and each employer used to have its own super fund so you've ended up with more than one... The pig is really having a good time with you.
Say you have had three jobs, you may have three funds, so the pig basically has a smorgasbord to feed from. Your pig has a little entree of 1% from the fund at your first job, a main course of 5% of every dollar that you or your employer puts in plus 1% of your super account balance as a side-order from your current fund and finishes off with a dessert of 1% from the fund at your last job.
To find out if you have a pig in your super, get your personalised Super Checkup Report today!
