2 things you should do for your super before you’re 30

Turning 30 is definitely a milestone in life. With 20s in the rear-view mirror, it’s the age at which many people say they feel like an ‘adult’. 

It’s often a time for introspection and taking stock of life, so it makes sense that you also have a think about your financial future and take steps towards ensuring that it will be a good one. 

Now we hate to be a party-pooper, but you have at least 30 more years of work before you can retire – and while this may sound like a bit of a downer, it’s actually a great thing, and here’s why:

... you will benefit the most from increased super contributions 
… you have time to ride out the volatility associated with a higher-risk investment strategy
… you have time to benefit from compounding investment returns on a steadily growing account balance.

We realise that you have many more birthdays before you retire, but here are two simple things that you can do before you hit 30 that really set you up later on. Your future self will thank you for having the foresight!

1.  Make additional contributions

Where super is concerned, the party is only just getting started. You may or may not be aware, but on 1 July 2021 we saw an increase in the compulsory employer contribution rate (known as the Superannuation Guarantee or SG for short). Plus, super contributions are expected to increase each year until they hit 12% in 2025. 

What does that mean? You get more in super – think of it as the gift that keeps on giving!

SG contributions

But don’t just rely on your employer’s contributions to set yourself up for the future. Studies have shown that employer contributions alone may not be enough to provide a comfortable retirement – in fact, it’s reported that 1 in 4 Australians are expected to outlive their savings by more than 10 years! 

Insert infographic: percentage Australian expected to outlive savings

Australians outliving retirement savings

If you want to make a real difference, make some voluntary contributions on top of your employer’s contributions – they don’t even have to be large amounts. By starting early and small, your hip pocket won’t even feel it, but your super balance WILL notice it down the track!

Try this for yourself by using our Retirement Income calculator.

2.  Make an investment choice

Out of everyone in the workforce, the under 30s have the longest investment timeframe.

This means that you can afford to take a long-term approach and invest your super in higher-growth options that will see your account balance grow the most over the long run. 

The other thing worth mentioning – and this really is the icing on the cake – is that you will also benefit the most from compounding returns on your super investment. 

Keep in mind that you will experience negative returns from time to time, which will negatively impact your account balance (and the subsequent impact of compounding returns). 

Learn more about investing your super here.


Get financial advice
Many people think that getting financial advice is only for those nearing retirement, and this couldn’t be further from the truth.

he fact is that not getting financial advice now can cost you more in the long run. That’s because many people underestimate how much they need for retirement and, as we mentioned earlier, 1 in 4 of us will run out of money in retirement. As early as you can, see a financial planner. It’s one of the best investments you can make in your future. 

Call Member Services to make an appointment or book online here.



The information on this page has been issued by Maritime Financial Services Pty Limited (MFS). It contains general information that doesn’t take into account your individual objectives, financial situation or needs. It’s important to consider how appropriate this general information is in relation to your situation before making an investment decision. We recommend that you seek financial advice before making any decisions regarding your super or investments. The information on this page is current at the time of publishing.