Superannuation Confessions: What I Didn’t Know in My 30s (and How I Improved It)

In my 30s, I barely thought about superannuation. Like a lot of people, I figured my employer was making regular contributions and that was enough. Retirement felt far away, and there always seemed to be more pressing financial priorities, mortgage repayments, travel, the occasional splurge etc.

It wasn’t until my 40s that I took a closer look, and got a bit of a shock.

The Moment It Clicked

It started with a casual conversation over coffee. A friend mentioned she was putting extra into her super before June 30. I realised I had no idea how much was in mine, let alone whether I was making the most of it.

Later that night, I finally logged into my super fund. My balance wasn’t awful, but it wasn’t where I thought it should be either. Even more frustrating, I’d forgotten about an old account from a previous job, meaning I’d probably been paying unnecessary fees for years.

That was the moment I realised I needed to stop putting it off.

What I Wish I’d Known Earlier

There were a few key things I learned the hard way:

1. Even Small Contributions Make a Big Difference

If I’d started adding just $25 a week through salary sacrifice in my 30s, I’d be in a much stronger position now. The compounding effect over time is surprisingly powerful, even modest amounts can grow significantly if you give them time.

2. Unused Contribution Caps Don’t Always Disappear

I also learned about the “carry-forward” rule. If your super balance is under $500,000, you can use any unused concessional contributions from the past five years. That would’ve come in handy during years when I wasn’t earning as much and didn’t contribute the full amount.

3. Fund Fees and Investment Options Matter

I used to assume all super funds were more or less the same. They’re not. The fees I was paying in my old fund were higher than average, and I was in a conservative investment option that didn’t suit my age or goals. Once I switched, I started seeing more consistent growth.

4. Insurance Inside Super Isn’t Always Tailored to You

I hadn’t reviewed the insurance bundled into my super. It was eating into my balance and didn’t reflect what I actually needed. Reviewing those settings helped free up more of my contributions to go toward retirement, not premiums.

The Small Changes I Made

Once I started paying attention, I made a few simple but important adjustments:

• I combined my multiple super accounts into one, cutting down on duplicate fees.

• I reviewed my investment strategy and adjusted it to suit a longer time horizon.

• I added a small amount through salary sacrifice each month, an amount I barely missed from my take-home pay.

• I made a habit of checking in once a year to track how things were progressing.

Looking Ahead

I’m not pretending to have it all figured out, but I’m more engaged now, and I feel a lot more confident about what retirement could look like. Super doesn’t have to be complicated, but it does require some attention. Looking back, I wish I’d been more curious in my 30s. I would’ve saved myself some stress and likely ended up with more in the account.

If you’re in the same boat I was, it’s worth taking an hour this week to check where you stand. Whether it’s consolidating accounts, reviewing your fund’s performance, or just understanding your contribution limits, small steps today can make a meaningful difference down the track.

Book a complimentary 20-minute session, if you’re not sure where to start. We’ll walk you through your options in plain English, no jargon, no judgment.

By Brett Tarlington