For ten years, Mishael Costello worked hard to raise her three daughters as a single mum – and it’s safe to say that during that decade, she barely gave her superannuation a thought.
Once her daughters grew up and left home and Ms Costello started to look into her financial future, she got a rude shock. Her superannuation wasn’t anywhere near enough to retire comfortably, meaning she now has to scramble to make up for lost time.
The Melbourne mum now has a blunt message for all women.
“I never thought about my super at all. When you’re married and in a dual or single income unit you don’t think about your finances individually, and that’s a really big mistake,” she said.
“I think woman don’t take responsibility for their finances enough. By the time they start making money they are often in a partnership or a marriage and they think it might be forever. But as women we’ve really got to think about it as an individual – you don’t know how you are going to end up," she continued.