Many companies will have a testimonials page on their website where you can read comments from past clients. Is the contractor properly licensed? Do they have all the necessary permits? This is the first thing you should ask any contractor.
But where to start? There are a few important things to look for when beginning your search: Subscribe now.Choosing the right HVAC contractor may seem like a daunting process, and in order to find the best contractor for you, research is important. Money Magazine's July 2010 issue is out now.
#Get choosy free
If you want to compare funds there a few great online sources that can help you.Įach provides access to some free information but you may have to pay for more detailed reports.įor more on super check out the July issue of Money magazine, out now! For example do they have a good helpline and website or will you be sent regular performance updates and newsletters? You may also consider how “consumer friendly” a fund is. Examples can include discounted home loans or health insurance, regular educational seminars or discounted or free access to financial planning services. Make sure you take a look at the cover on offer and how much it costs.Įxtras: Some funds offer extra services to their members that may interest you.
#Get choosy plus
Another plus is that insurance within super tends to be cheaper. Your money is paid by your employer’s contribution and does not come out of the family budget. The big advantage of having insurance through super is that it helps with cashflow. Insurance: Many funds offer life and total and permanent disability cover up to a certain level but you may be able to opt to increase that level or take out income protection as well. As retirement nears you can get more conservative, although some experts argue with rising life expectancy this should no longer be the case. As a general rule, if you’re young you can go for riskier options. When choosing the option consider when you want to retire, how much money you’ll need to live in retirement, your attitude towards risk and whether diversification is important to you. This is often a balanced option and the returns can be lower than some of the alternatives. You don’t have to choose and if you don’t your money is usually in the “default” option. If you’re especially interested in socially responsible investing for example, you may want to look for a fund that offers that option. Investment options: Many funds let you choose the investment strategy for how your money is invested. Don’t compare a balanced option with one that invests in international shares for example. The Australian Securities & Investments Commission (ASIC) says it’s important to try and use the same start and finish dates for each fund and make sure you’re comparing like with like. If a fund is consistently bad you should probably steer clear.ĭon’t just look at the fund’s one-year return – look at its performance over a longer period of five or seven years. Investment performance: Although you’ve probably heard the expression that past performance is no guarantee of future returns it’s still worth looking at how a fund has performed. To work out the effect of fees on your retirement stash. If you are a member of a retail super fund though you may be able to claw back some of these commission fees if you use a rebate service provider such as YourShare or RefundEasy. Examples of industry funds are AustralianSuper, CARE Super, HESTA and MTAA Super. Industry super funds tend to be cheaper than their “retail super” counterparts because they don’t pay commissions and are not for profit. All these should be listed in the product disclosure statement. Other fees include entry and exit fees, extra contribution fees, investment strategy switching fees and insurance premiums.
The main fee to look out for is the management fee which is usually a percentage of your balance. For example if you pay an extra 1% each year in fees, you could lose up to 20% from your retirement benefit over 30 years.
Fees and costs: All funds charge fees but some will be more than others and you might be surprised what effect those fees will have on your super balance.
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