NAB Short Course - Sponsored Feature
This is an excerpt from Business Spectator’s new short course on Successful Habits. Click here toread the rest of the article, plus the remaining nine articles in the course.
Your business and your superannuation are two different things
Far too many business owners believes their business is their superannuation and so fail to make adequate provision for their retirement.
While most SME owners must pay at least the minimum 9 per cent of the earnings base to employees for superannuation, they are not required to make any sort of payment towards their own super. They look after their employees' future without looking after their own.
The case for superannuation
The Association of Superannuation Funds of Australia recommends that to retire comfortably singles need just over $40,000 a year and couples just over $55,000 a year, so hoping you will be eventually able to sell your business to fund your retirement may not be sufficient …
Click here to read the rest of the article, plus the remaining three articles in the course.