Putting money away for the future is a key part of preparing for your retirement and achieving goals.
The most important part is getting that money working for you. There are many things that you have take into account when you are making those investments decisions including, but not limited to:
1. How are you going to make money out of the investment?
2. How are you going to take money out of the investment? This is particularly important for 'locked in' investment schemes like syndicated property trusts and for residential investment property.
3. What is the after tax potential return? Your tax rate is likely to change when you stop working, and you should take this into account in your calculations.
4. What is the after inflation and fees potential return? You need to take into account whether your investment return after tax, fees and inflation is a positive number.