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231 superannuation part 1

Dev Raga Personal Finance

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How Much Should You Contribute to Your Super?

Mandatory super from the first of July 2022 is actually 10.5%. So if your gross income is $100,000 per year your employer should be contributing $10,500 towards your superannuation. Most Australians are investors in their super but probably don't even know what that is and what they're invested in. The aim is you keep contributing to your super during your working life and when you reach a specific age around 60 or 65 you're allowed to touch it.

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