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What Are Some of the Common Mistakes That Young People Make With Super?

People in their 20s and 30s tend to not do much with their super, and that can be a mistake in itself. It could leave them with a large gap between what they’re capable of contributing in the last 10-15 years before retirement and the level of income they want to retire on. Lots of people say, "I'd love to retire at age 60 on $100,000 a year." But they don't actually focus on their super until they're 45 or older. And to achieve that sort of outcome, the level of extra super contributions that would be required is huge and probably unachievable. That means pushing retirement back or accepting a lower level of income – and therefore a lower quality of life – in retirement.

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