Divorce or separation and your super
No one enters a relationship thinking it will fail. But fail they do. We look at why it's so important to think about superannuation if you separate or divorce.
HESTA member Stephanie is helping to build resilient children in her professional life, while also building her super for her future.
Stephanie is a social worker who helps families who have a child with hearing loss. “I support families who are on their journey of learning about hearing loss. Along with a team of speech pathologists and audiologists, I provide education and support as well,” says Stephanie.
“It's such a privilege to see little babies with hearing loss grow into resilient children who can speak and participate in mainstream life, and then go off to school along with everyone else.”
Building her super
While Stephanie helps build resilience in the children she supports, she’s also building her super. “I think I have a pretty good knowledge of superannuation, the importance of it and how it works. I'm keen to build my super and make it work for me,” says Stephanie. “I want my super to be a financial resource with the ultimate aim of having a comfortable retirement.”
Stephanie has taken a number of steps now to help her on her way to the retirement she wants to achieve. “I've been with HESTA ever since I started my professional career and have been really happy with the way they have managed my super. I have rolled my super into my HESTA account because I didn’t want to pay double fees, and the process was really easy,” says Stephanie.
“I have reviewed my investment options once or twice, but I don't know a lot about it to be honest. It’s probably something I could learn more about so I’d like to get advice about the right investment options for me in the future.”
“I check my balance regularly via my online account, and that reassures me that it's growing!”
A more secure future
Being a mum, Stephanie feels lucky to work in a job that puts family first. “I am passionate about my family, being a mum comes first for me. I know the passion and emotion involved for the parents I work with too, who would do anything for their children.”
To help secure her financial future, and to protect her family Stephanie updated her insurance options within her HESTA super account. “I updated my Death Cover and Total and Permanent Disablement (TPD) insurance through super. While that process took a little longer because there was a health assessment involved, it felt worthwhile and provides me with a sense of security, for myself, as well as my daughter,” says Stephanie.
No one enters a relationship thinking it will fail. But fail they do. We look at why it's so important to think about superannuation if you separate or divorce.
As we approach the end of another financial year, there are some things to consider if you’re planning to make extra contributions.
Make a time to meet with a HESTA Super Specialist.