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| What you’re missing – a lost super case study |
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There’s a lot of talk about finding your lost super, but sometimes it takes a few simple figures to show you just how beneficial it can be. Because if you’ve ever worked and been paid super, even if it’s only a small amount, it’s money you’ve earned, and it should be working harder for you - that’s something you shouldn’t lose sight of. Case Study – Cameron’s calamity Let’s take the example of Cameron, a mid 30s male who has worked a few jobs in his early university years, a few other short-term contracts and has settled in with a company for the last 4 years. Cameron knew he had old super funds but because he moved house often, including interstate, he had lost track of his super accounts. In reality, he had 6 super funds out there: Fund A contained $4,500 Fund B contained $2,100 Fund C contained $1,200 Fund D contained $1,400 Fund E contained $2,800 OAMPS Super, his current fund, contains - $30,000 In total, Cameron had $12,000 worth of super in other funds that was slowly being eaten away by fees and other charges. Once he had consolidated it with his OAMPS Super account, he had $42,000 in one fund. In doing so, Cameron has saved on five sets of fees and insurance premiums every week of every year, for up to 30 years. This could add up to $31,200!! When you add 30 years worth of interest on top of this $31,200, the amount quickly adds up to a major difference in his retirement balance. To see how Cameron saved even more, read the continuation of his case study in the rollover your super section. Assumptions:
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Find your lost super 
What you’re missing
What you’re missing