At Superhero we’re big fans of consistent, regular investing.
Instead of manually making individual deposits into your account each time you wish to invest, you have the option to streamline your investments by setting up automated, recurring bank transfers.
How to automate your Superhero deposits
You may automate your Superhero deposits through your internet banking account:
- Log in to your Superhero account.
- In your Superhero Wallet, you will see your individual Superhero BSB and Account Number (as illustrated below).
- Log in to your banking account and set up your Superhero Account as a payee.
- Set up a recurring payment to your Superhero account (e.g. weekly, fortnightly or monthly).
You’ll receive a notification each time you receive a deposit into your Superhero account.
Keep in mind that you’ll need sufficient funds in your bank account for the recurring payment to fund your account.
The benefits of regular investing
To understand the benefits of compounding returns and regular investing let’s look at an example.
- Initial Investment: $1000
- Monthly Investment: $1000
- Investment Time Horizon: 10 Years
- Yearly Return on Investment: 9.4% (average return of the Australian sharemarket over the last 30 years according to the 2019 Vanguard Index Chart)
At the end of 10 years with the above strategy and return you would have $200,502.
Regular investing can be a great way to build your wealth over time to achieve your goals. Similarly, it’s used for several types of investment strategy, such as dollar-cost averaging.
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