Speaking with Brendan just now, it is immediately evident how much he cares about his team and their financial well-being.
‘I’ve been an REI Super member for over 20 years myself and see firsthand the benefits it has for me now and into the future. With consistent strong returns and modest fees, I’ve seen my nest egg grow year on year, and I want that for my team.’
‘Returns are very important, however, there are many other benefits to being a member of your industry fund. Insurance, for one thing, life insurance, and income protection is negotiated by the fund on behalf of all members to be affordable, flexible and have unique cover for things like commissions – best of all, premiums come out of your super balance, not your take-home pay so it’s easy to protect yourself and your family against the unexpected,' says Brendan Murphy, Director at Barry Plant Wantirna.
Getting ahead early makes a huge difference
‘My dad was a self-employed plumber who really didn’t pay any attention to super and what would be his income in retirement until he was 40 something. Coming from so far behind, he had to work extra hard at the other end of his life to set himself up to have a passive income. That was a huge lesson for me and one I was never going to let happen.’
‘Right from the time I started with REI Super, I’ve topped up my contributions annually to the maximum I could. Not only does it save me at tax time, but those extra years of compounding interest are also making a massive impact on my balance.’
‘I know not everyone takes as keen an interest in super as I do, so a few weeks ago, I sent out a reminder email to every one of the 30 June cut-off for voluntary contributions or salary sacrifices they might want to make. And to speak to payroll right away so they don’t miss the deadline.’
Financial advice is priceless
‘From personal experience, I know that financial advice is priceless. It gets you thinking and helps you understand your investment horizon, your risk profile, and the investment choices you have that are so critical to making great decisions for your money. Super advice is free too, over the phone or online.’
‘Recently, we had REI Super BDM Dana Walton come and speak to our team to reignite their interest in super, remind them of the many benefits the fund offers, and engage with their super. It was a great session, and I feel it’s an important thing to do as an employer. Something we will lock in every 24 months or so from now on.’
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We recommend that you seek help from a licensed financial adviser before acting on any information contained in this newsletter. Although REI Super makes every reasonable effort to maintain current and accurate information, you should be aware that there is still the possibility of inadvertent errors and technical inaccuracies.
The REI Super Helpline and the REI Super website are provided by Mercer Outsourcing (Australia) Pty Ltd ABN 83 068 908 912 and Mercer Financial Advice (Australia) Pty Ltd (MFA) ABN 76 153 168 293, Australian Financial Services Licence (AFSL) #411766.