Aussies are often told they don’t care enough about super. When should you start caring?

Well, it’s your money. When do you think you should start caring about it?

Your answer should be “now”. Followed by: “Okay, so what do I do next?”

Australians, on average, couldn’t give a toss about super. I blame Government. Firstly, they’ve never run a public education campaign, despite making super mandatory. And secondly, they constantly change the rules.

But it is your money – you just can’t access it until you’re at least 60 (for Gen Xers). If you don’t give a damn, who will?

Xers who haven’t given two hoots have missed a few decades of making this baby work properly. But it’s not too late – super is an ultra long-term investment vehicle, designed to help you into your 80s or 90s.

Here are the five things to do now.

Up the risk. If you’ve done nothing with your super, you’re probably in a balanced fund. Do a “risk profile” with a view to getting more of your super invested in shares and property.

Get the insurances (life and total and permanent disability) you need through your super fund.

Consolidate your funds (after considering insurances), to the fund that makes the most sense. If they’re all crappy, find a new one that will suit you.

Contribute extra to super now, even if it’s only a few thousand dollars a year, because putting in more later in life will be harder than for previous generations.

Or, if you can’t be buggered doing it yourself, get some help with the above. Find a professional financial adviser to give you a hand with it.

Bruce Brammall is the principal adviser with Castellan Financial Consulting (www.castellanfinancial.com.au) and author of Debt Man Walking.