Turns out one of the issues weighing heavily on the minds of youths in the lead up to the election is how much cash they’re going to be rolling in come retirement.
In the lead up to the national bake sale election, The Australia Institute asked 800+ “youths” (read 17-25 year olds) what issues were likely to inform how they voted. Top answers included the usual availability of jobs, marriage equality, university funding and climate change, but goshdarnit, they also wanted their superfund to be as fat as possible when they retire.
As it stands, most kids wanna retire when they’re eligible for the Senior’s Card but with the cost of living increasing, they could be working until they’re 70. #bummer
So to ensure you’ve not eating beans on toast when you’re ready to hit the retirement resorts, give yourself a Super Kickstart and maybe take into account what the major parties are promising you should you decide to pop a ‘1’ in their box on Saturday.
LABOR:
Want to increase mandated employer contributions up to 9.5% in 2014 and keep upping contributions to 12% by 2019. They are also offering $500 a year to low income earners to help fatten up their retirement funds.
LIBERAL:
The Coalition has promised no “unexpected adverse changes” in its first term if it wins but wants to delay the mandated contribution increases by two years. It also isn’t keen to offer any extra money at all to low income earners.
GREENS:
The Greens basically just want a simpler, more transparent system with fairer rates of tax and ethical investment structures.
THE SEX PARTY, THE WIKILEAKS PARTY, THE JOE COOL PARTY:
None appear to care about our future retirement $$$.
Still don’t know who to vote for? Check out our guide.
Another way to ensure you’ve got a bunch of cashola when you retire is to earn the big bucks. Become your own boss, yo! If you’ve got an idea and want to turn it into a business, sign up for our Pedestrian Coach session with oDesk – the world’s largest online workplace. During the session, you’ll find out what steps it takes to turn your brilliant idea into a reality, and hopefully a giant pool of cash you can splash around in.
These days, it’s common to change jobs two, three or more times in your working life. When you change jobs, tell your employer where to pay your super – One simple form is all it takes!
