The start of a new financial year is a good time to review your superannuation arrangements:
Do you still have multiple funds and pay multiple fees?
Is your fund expensive in terms of fees?
How is your money invested?
What is the performance like?
Should you be contributing extra?
The trap for many self-employed doctors and dentists is to ignore superannuation, which means you miss out on valuable compounding and tax benefits.
Making concessional super contributions can provide you with a significant income tax deduction, and allows you to invest in a very tax-effective environment.
Superannuation will typically still be a very important part of your retirement income, so it makes sense to maximise your benefits.
You may also find some useful tips in this article HERE.
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