self employed super contributions

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(Newbie)Newbie

17 Jan 2021

Hi ? can anyone help me with a superannuation question please?

I am 62 and want to retire this year. I have only $21,000 in super with AMP as I am self employed. I had money in term deposits in the past which earned good interest but now my money is doing nothing. Would it be prudent to invest $25,000 more at this stage into AMP as I am happy to leave it there and draw on it as super funds are definitely performing better than banks in growth. I have an investment property which makes around 10,000 a year in income and $5000 in shares. Any advice would be greatly appreciated. Thank you.

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Glenn4802

(Devotee)Devotee

18 Jan 2021

You are asking for financial advice, which can only be provided by a licenced person rather than via this forum.

Whilst super can provide a high return and tax benefits, so can other investment options. You need to have someone look at you full circumstances and future needs before deciding what to do.

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Glenn4802

(Devotee)Devotee

18 Jan 2021

You are asking for financial advice, which can only be provided by a licenced person rather than via this forum.

Whilst super can provide a high return and tax benefits, so can other investment options. You need to have someone look at you full circumstances and future needs before deciding what to do.

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self employed super contributions

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