Discuss the role and importance of long-term financial strategies, including superannuation:

Question 1

What are some long term financial strategies

Answer 1

• Funding retirement through superannuation
• Investing in real estate, shares and managed funds

Question 2

How do funding retirement through superannuation work?

Answer 2

A superannuation fund is a compulsory savings account where each time you are paid, your employer will
allocate a percentage of your income to the account.

Question 3

What is superannuation?

Answer 3

Superannuation (commonly just called ‘super’) is money that’s put aside and saved while you’re working.

Question 4

How can superannuation be beneficial for financial management?

Answer 4

• ensuring that you have enough wealth to live on well into your retirement.