The Australian Taxation Office estimates that there is $18.1 billion in ‘lost superannuation’ across the country. This is a clear illustration of Australia’s complacency and typical disregard toward what for many will be either their largest (or second largest – to their principal place of residence) lifetime investment.
Attending a Blue Wealth ‘Australian Property Update’ gives one a sobering perspective on exactly how little commitment is shown by Australians to proactively managing the quantity of money that is to see them live comfortably in the twilight of their lives.
To put $18.1 billion in perspective – this amount of money could purchase every residential property in Sydney’s western suburb of Parramatta four times over, or buy oneself 64,642 blue Porsche 911 Carreras.
Westpac estimates that an astonishing 47 per cent of working Australians have lost super, typically due to changing careers, part time work, and swapping funds. What this means is that there is a significant opportunity for suitable individuals, partnerships and families to tap into their stagnant superannuation resource by making a proactive investment in property.
The Blue Wealth team has a firm history of assisting business partners and clients use their super to invest in property and our upcoming ‘Super Event’ on 24 June is a great way to show clients what is possible with this forgotten resource. Pencil 24 June in your calendar and start writing a list of who to invite. Invitations and more details will be available in the next week.
This is an event you do NOT want to miss.