"I wish I paid more tax... and had less super,”
said no one ever

But for most self-employed folks, this is exactly what happens. All because nobody made it clear how to grow your super investments, by conveniently slashing your tax using superannuation...

Alex

As an example, let's say this is Alex.

She's a 34 year old freelance copywriter who sees herself retiring at 67.

Alex earns a solid average of $85,000 a year and she also gets taxed solidly on that amount, too.

After years of procrastination, she finally decides to do something about her retirement and commits to saving $125 a week.

Very quickly, Alex notices how much less tax she pays if she starts saving inside super and claiming her contributions as a tax deduction.

She also sees how it boosts her retirement stash in the future, compared to the same investment outside of super:

Outside super
Inside super
Tax. paid on the $125*
$41
$19
Actual weekly amount invested after tax
$84
$106
Amount at retirement
$159,455
$240,487

So by saving for retirement using super – and claiming contributions as a tax deduction – Alex slashes her taxes and pockets an additional $81k in retirement savings.

And because Alex will be over 60 years old when she retires, she can access her superannuation savings tax-free.

Thank you Mr Taxman!

* For more information on how super is taxed, visit the government’s MoneySmart website here.

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