New Scheme for First Home Buyers Falls Short of the Mark

mini house

The First Home Super Saver Scheme (FHSS) is a new initiative that passed into law on 13 December 2017. The scheme allows individuals to save towards their first home deposit within the superannuation system as from 1 July 2017.  

The FHSS is the government’s response to helping Australians with housing affordability. But is it enough? In Part 2 of our 3-part series on Housing Affordability, we ask whether or not the FHSS is the saviour of the great Australian dream, or is it too little too late?
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7 steps to sort out your super

superannuation

Why bother saving for retirement when it seems so far away? Well it’s important because quite simply you don’t know how long you’re going to live – and you could be alive for a long time.

According to the Australian Bureau of Statistics, a typical 30 year old male can expect to live another 51.3 years while a female of the same age can expect to live another 55.1 years. Remember these are just averages. If you have longevity in your family, earn an above-average income and don’t add to risk factors such as smoking, inactivity or a poor diet you could live well into your nineties.  

Bottom line – you need to ensure that you’ll have enough money to live off of when you’re older and that’s why super it’s important to get your super sorted. Luckily for you, we’ve got 7 quick steps to help you get on top of your super.

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