By age 65 what position will you be in?
The big difference between superannuation and every other investment is:
SUPER HAS A DEADLINE
and it is a serious deadline – called age 65.
By age 65 there are two possible positions to be in:
- You made it.
- You never made it.
You will always know in your heart which one fits you.
- The race is on as we speak;
- The starters gun has gone;
- We never get the chance to recharge;
- You have to get it right this time around.
Noel Whittaker, one of Australia’s most respected financial advisors says that
“Success is a game where the winner holds the most growth assets the longest time.”
That’s very easy to understand. If you own personal assets and also superannuation assets you are twice as well off.
In previous years, the choices available to you to provide for a proper retirement has been:
1. Accumulate growth assets UNDER THE SUPERANNUATION “umbrella”. This approach gives very favourable tax benefits, but is held back by the fact that super funds can’t borrow (to leverage and therefore multiply the growth of your assets). The fact that you could not leverage until now was like driving a car with the handbrake on.
2. Accumulate PERSONAL growth assets OUTSIDE THE SUPERANNUATION “umbrella”. This allows for exponentially greater growth of your net worth because you can borrow (to leverage and therefore multiply the growth of your assets).