Forget the flowers: This Mother’s Day gift could net you $730k
This Mother's Day, consider asking your partner to split their superannuation contributions instead of giving flowers. This decision could significantly impact your financial future, potentially adding up to $730,000 over time. Super splitting is an underutilized tool that can help address the gender pay gap in retirement savings.
- ▪Super splitting allows one partner to share 85% of their previous year's super contributions with their spouse or de facto partner.
- ▪Many couples overlook the impact of childcare costs on both partners' wages when planning for family finances.
- ▪The average annual salary for a full-time employee in Australia was approximately $89,000 as of early 2026.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.