Review your investment
The right investment strategy will protect and build your wealth. When it comes to your actual investments there are two key questions.
Are you with a performing fund?
Is your fund delivering the level of returns you need to grow your super? By looking at long-term returns you can see whether your fund is performing for you.
"Keep in mind that in the short-term investment performance can go up and down due to many factors, such as interest rates. For example, there were poor returns across almost all investment markets during calendar year 2022. While this year investments have performed far better,” explains Davey.
Is your investment right for your life stage?
Generally, higher risk investment options deliver stronger returns over the long term. So, when you’re young, these options can be a good choice. As you get closer to retirement and preserving what you have becomes important it can be advisable to become more defensive in your investment choices.
Think about how much risk is right for you to take on at your life stage. You can start by reading our article Building wealth is all about risk.