My son is now at Uni and I am worried about fees eroding his super savings

 

 

 

Q. My son worked at Macdonalds for 4 years and has a superannuation with employer contributions. He is now doing full time study at uni. Should he do something with this superannuation before it is eaten away with fees?

A: I just love it when people are conscious of fees within their superannuation fund. As you know there are far too many people who simply don’t care and then years later wonder what happened.

Just wish they understood that if you are in the wrong super fund, fees can easily strip 20% of your final retirement benefit (just imagine a slow drip from a tap - very soon the bucket is full and in this case the bucket belongs to the financial institution and in some cases, the financial planner). Read more