Theo Marinis’ contribution to his daughter’s super saw her wealth grow exponentially

·

Parents of working teens are being urged to make the most of Australia’s superannuation incentives and compound interest to give their children a powerful kickstart to building wealth.

According to The Australian, big benefits can flow from the government co-contribution scheme, which pays up to $500 a year into a low-income earner’s super fund if they contribute up to $1000 of their own money – less than $20 a week.

Financial strategist, Theo Marinis, started contributing to his daughter Sophia’s superannuation when she began part-time work at a supermarket at 14.

Financial strategist, Theo Marinis.

He told The Australian he doesn’t regret it as Sophia “is now 27 years old and has a super balance approximately 2.7 times the recommended super balance for a 30-year-old.”

“It’s definitely worth doing – it’s amazing how quickly it compounds and it sets them up and teaches them,” Theo said.

Sofia couldn’t agree more and told the newspaper she “feels a sense of security” knowing her superannuation is “compounding nicely in the background.”

“Superannuation is not something to sleep on – the sooner you start, the better off you’ll be,” she said.

Source: The Australian.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Step into the world of mental health with Georgia Cassimatis’ latest book

Greek Australian author and journalist, Georgia Cassimatis, has released a book all about exploring the world of mental health.

GOCNSW Welfare Service to put a spotlight on cyber security awareness

The Greek Orthodox Community of NSW’s (GOCNSW) Welfare Service has organised three Cyber Security Awareness education and training workshops.

Marriage of a Greek woman abroad: What to watch out for

It is during this registration process that numerous problems arise, which are not dealt with immediately but later on.

Athena Competition Greek winners show olive oil diversity

By Lisa Radinovsky from Greek Liquid Gold. At the 10th anniversary edition of the ATHENA International Olive Oil Competition in Chania, Crete, Greece in May, 175 Greek olive oils...

Greece’s island communities face population crisis

The demographic decline in Greece is hitting its islands hard, with Lemnos and Agios Efstratios showing alarming signs of aging populations.

You May Also Like

Cretan Federation of Australia and NZ message for the Battle of Crete

Η επέτειος της Μάχης της Κρήτης θα μείνει χαραγμένη στην μνήμη μας για πάντα, δυστυχώς για τους λάθος λόγους. Αυτό το Γολγοθά που περάσαμε...

Greek government to host online seminar for Greeks abroad on tax, business and relocation

An online information seminar designed specifically for Greeks living abroad will be held on Wednesday, July 9, 2025.

Alison Duncan appointed Australia’s new Ambassador to Greece

Ms Alison Duncan has been appointed as Australia's next Ambassador to Greece. Ms Duncan will also be accredited to Bulgaria and Romania.