Your superannuation grows primarily through contributions made by you and your employer. These contributions are invested in a variety of assets, such as stocks, bonds, and property, with the aim of generating returns over the long term.

The growth of your superannuation is also influenced by the investment returns generated by the assets in which your contributions are invested. These returns can vary from year to year, depending on market conditions.

One of the key factors that contribute to the growth of your superannuation is compounding. Compounding occurs when your investment returns are reinvested, generating additional returns over time. The longer your money is invested, the more significant the impact of compounding.

It’s important to be aware of the fees associated with your superannuation account, as these can have an impact on your overall returns. Lower fees can lead to higher returns over the long term.

The amount of time you have until retirement can also affect the growth of your superannuation. Generally, the longer your investment horizon, the more opportunity there is for your superannuation to grow.

Diversifying your superannuation investments can help reduce risk and potentially enhance returns. By spreading your investments across different asset classes, you can protect your savings from market volatility.

Regularly reviewing your superannuation investment strategy and adjusting it as needed can help ensure that your superannuation continues to grow in line with your financial goals.