With hindsight
Nonetheless, Panagiotopoulos says her own super is not front of mind - and little wonder. After taking a year's maternity leave after the birth of her son, John, Panagiotopoulos worked part time for 18 months and is now back on maternity leave after the arrival of baby Julia in late May. "With kids, you think about the immediate but you do tend to think long term as well," she says.
"Planning for them, planning for school and planning for us in retirement. My priority now is looking after the kids and making sure I'm still employed, to be able to still get super so when I do get to retirement the funds are there."
"Long term, I'm thinking about myself. But it's last on my list."
Panagiotopoulos and her husband, Peter, have done some planning for retirement, which they intend to fund with super and investment properties.
But time out of the workforce means that Panagiotopoulos' superannuation contributions have been reduced or halted altogether for the past 2½ years, and will be until the children start school. Her plan now is to make extra super payments when she returns to work.
Looking back, Panagiotopoulos wishes she'd put more into her super before she had children when she was working full time. "I wish I'd locked away more money in my super," she says. "Whereas now I have to be conscious of where I'm putting that money because I've got kids."
Frequently Asked Questions about this Article…
According to the article, Panagiotopoulos has had reduced or halted superannuation contributions for the past 2½ years because she took a year’s maternity leave, worked part time for 18 months, and is now back on maternity leave. She says contributions will remain affected until the children start school.
Chris explains that with young children the immediate needs take priority — looking after the kids and keeping employed — so super isn’t top of mind even though she still thinks long term about planning for school and retirement.
The article says Chris and her husband Peter plan to fund their retirement with a combination of superannuation and investment properties.
After her son John was born, Chris worked part time for 18 months, which contributed to reduced super contributions during that period; she is now on maternity leave again, further affecting contributions.
Yes. Looking back, Chris wishes she had put more money into her super before having children when she was working full time — she says she wishes she'd 'locked away more money in my super.'
Chris plans to make extra super payments when she returns to work to help rebuild her retirement savings after a period with reduced or halted contributions.
The article states her contributions have been reduced or halted for the past 2½ years and will continue to be affected until the children start school.
Chris is the executive assistant at Melbourne law firm IFS Legal. She comes into regular contact with the superannuation industry because the firm's clients are super funds, though she says her own super isn’t currently front of mind.
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