You have to be careful with the maximum top-up you can reach per year, especially if your company pays for some insurance into Super: it is added to the total. If you go above the total, you finish up with an ATO fine.

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Some years ago a financial advisor suggested my wife, then in her early seventies, change her super investments into a "safe, conservative high cash position" . This was following some rocky events on the stock exchange. She resisted the advice which would have involved selling off a lot of bank shares and instead pursued a her moderate growth and income strategy and today is vastly better off and we enjoy a healthy (fortunately) and well funded lifestyle.

I sometimes think that financial advisors do not take into account the longevity of people these days. At 66 years you have many more years ahead of you and feel that a more growth oriented super strategy should still be pursued. At least look at better super fund options and consider moving from a highly conservative low growth cash position to maybe a moderate or balanced growth investment option.

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