Extra super contributions can save tax now, but that money is generally locked away until you retire and reach your preservation age (60). For people in their 20s and 30s, that has to be balanced against nearer goals like a house deposit, children or travel.

In this video, McKern financial adviser Kristian Tangan explains how to prioritise short-, medium- and long-term goals. For many younger people, the super guarantee your employer already pays (currently 12% of ordinary time earnings) may be enough for now while you save for other goals. The key is a flexible plan that changes as your priorities do.

In this video

00:00 Long-term versus short-term goals

General information only, not personal advice.