At Superhero we’re big fans of consistent, regular investing. Instead of going into your bank account and making individual deposits each time you’d like to invest, you can automate your deposits through a recurring bank transfer.
How to automate your Superhero deposits
You can 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
- 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 power 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.