Before we met with Doug from Australiawide we didn’t really pay much attention to our superannuation and had multiple super funds. With two kids and both working full time we never took the time to have a look at our superannuation. We had no idea where our super was invested or the fees that we were paying. However, after sitting down with Doug and seeing how much of our super was being eroded through fees we regretted not reviewing our superannuation sooner. Most importantly Doug took the time to understand our specific needs and circumstances and explain things simply so that we could make informed decisions regarding our superannuation. Super is real money and the decisions that you make now will have a significant impact on your overall retirement nest egg.
Before
Total superannuation balance – $120,000
Average member expense ratio – 1.4%
Account Keeping Fees – $70 per fund approx.
Total fees paid – $2,100
After
Super consolidation
Total super balance – $120,000
Member expense ratio – 0.7%
Account Fees – $70
Total fees paid – $910
Annual Fee Saving $1,190.