It’s only natural to be concerned about your super balance when the markets fall. But it’s important to remember that super is a long-term investment. It’s normal to see cycles of exceptional highs followed by periods of low and sometimes even negative returns.

Boosting your super is probably the last thing on your mind right now. After all, the idea of making extra contributions to your super when your balance is dropping seems counter intuitive. But now might be just the right time to invest. Let’s take a look at why.

Your super account is made up of units and each unit costs a certain dollar amount. Let’s say you contribute an extra $100 a week to your super. When markets are high an individual unit might cost $2 and you add 50 new units to your super investment every week. But, when markets fall, the unit price might cost just $1 giving you 100 additional units. Markets aren’t always going to be low so when they recover the additional units you bought at a low price help your super balance grow faster.

Focus on your long-term goals

No matter what the market is doing, making extra contributions to your super can be a great way to grow your balance, and the earlier you start the better off you are likely to be.

Your super is an important long-term asset, so it makes sense to have a plan about how you’re going to manage it. Simply login to Super Online to see your balance and use the retirement income projector to see what your balance might look like when you’re 65.

Need some help?

We’re here to help you build a secure financial future. TelstraSuper Financial Planning can discuss your goals and give you advice about your TelstraSuper account over the phone at no additional cost – it’s part of your membership.

To speak to an Adviser from Telstra Super Financial Planning give us a call on 1300 033 166 or request a call back.