By LISA MITCHELL
I loved visiting my grandmother when I was a little girl. She always gave us the biggest hugs, she cooked the best veal schnitzel I’ve ever tasted in my life and she always gave us $5 for no reason whatsoever.
Not that I ever expected it or anything.
She was lucky to have enough money to retire on and as a result, spent her twilight years living the dream, which for her was tending to her garden, cooking for the family and buying the really good parmesan cheese at her local deli.
When I look forward to my own retirement, I don’t see the same lifestyle being possible because I am way behind where I should be when it comes to superannuation, for a number of reasons.
I was behind before I started because I earn much less than my husband. Then I had a portion released to pay some urgent bills.
That was a huge mistake.
Add to that the time I took out of the workforce to have my three children and I’m well and truly behind. Then add the fact that I returned to work each time part-time.
The hits keep coming.
When I took time out to have my children, it never occurred to me to consider my superannuation. This is the case for many Australian women.
Just as an FYI, this post is sponsored by HOSTPLUS Super. But all opinions expressed by the author are 100% authentic and written in their own words.
All that time out of the workforce means no contributions towards our retirement. Women are already lagging behind in superannuation savings due to the fact we earn less than men. Sandy Wilson from HOSTPLUS Super Fund confirmed this when she told me, “there is a gender pay gap which means females get paid on average 17.5% less than males, this impacts what they receive in their super because this is calculated as a % of their pay.’