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Securing yourself as a young woman – your 70 year old self is thanking you.

By Emma Severin – Journalist @ HQ


Not so long ago, the idea of finances, superannuation, and retirement were so far from my mind that they may as well have been intergalactic. The thought of sitting through a lecture from my mum about how I need to ‘set up a super account’ and ‘put money away now’ was so horrifyingly boring to me, and it seemed so unnecessary to discuss at the age of just 18. I’ll deal with it when I get there, I groaned.

That is when I realised, what if I’m already there?

As a young woman, I grew up realising that I had no idea what financial security meant, or how to achieve it.

If you are reading this and find yourself realising the same thing, then read on ladies, because we have big fish to fry.

Let’s talk Superannuation. (You can call it Super because you’re now on a nickname basis.)

This is a regular payment that is put aside by your employer so that you have money when you retire.

Let’s say you are 18 years old, and you just got a job as a part-time retail shop assistant. You are receiving the minimum wage of $14 an hour, and you work the minimum of 32 hours a week, thus earning approximately $450 per week (and that’s excluding Public Holiday and Sunday pay rates). You earn roughly $23,400 each year, and your employer contributes the minimum Super rate of 9.5%.

Now, you may want to sit down for this next part, and if you’re already sitting – well maybe even lie down.

Considering all of these factors, by the time you retire at 70 years old, you will have saved over $280,000. That’s not all, if you also personally contribute just $50 per week to your Super, you will have over $560,000 to retire with. We know in the scheme of things this isn’t enough. But, you get this gist!

And that’s just considering everything at the bare minimum.

Alongside Superannuation, putting shares in a Listed Investment Company (LIC) is one of the best things you could ever do to secure yourself financially. LIC’s are the world’s best kept secret, because it’s not all as complicated as it may seem.**

No really, it’s just like opening a bank account and depositing money.

The biggest difference is that the company gives you Dividends, which are profits made by the company and given to you for being a shareholder.

And even better, it’s all done online with no forms to fill in. It really is as simple as it sounds.

Another simple tip for your wealth security: be smart with your money. Going a few months without that poached egg on avo toast and soy milk cappuccino won’t kill you! I promise! And if you’re really desperate, make it at home for less than half the price.

Now that you have the facts (although keep in mind I am no financial expert and this is my friendly advice), be confident! Trust yourself and know that being young doesn’t mean you are naïve.

You have all the power and knowledge to secure yourself financially and be able to retire in any way you please. Your 70-year-old self will thank you later.


*For more information on Superannuation, check out, it’s super helpful (pun intended).

For more on LIC’s, visit:

and to immerse yourself in the wonderful world of investing.



** Disclaimer: This information is stated as friendly advice from a personal perspective from a journalist at Work It Girl Australia. Before acting on this advice, please seek advice strictly from a professional financial consultant, lender or analyst.  Please read our service disclosure statement and terms and conditions for more information. Work It Girl Australia acts on behalf of any financial articles as blogs only.


1 Comment
    • Mary Wade
      Jan 13, 2018 10:46 am Reply

      Congratulations, Emma, on your first journalist job.
      This is a witty, engaging read on an important topic.
      You have presented financial advice in an uncomplicated, understandable way that I hope will influence young women to think about their future financial security..
      I look forward to more of your articles.

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