Your super is a bit like your wardrobe. As your situation changes, you may need to try on different investment strategies for size. And like your wardrobe, it will need updating as your style evolves over time.

So how do you find the super strategy that fits you? Generally, financial advice recommends you consider two factors - your individual risk profile and the length of time you're investing. For example, if you're a naturally conservative investor, you might like a balanced fund with a mix of stable performers, like cash and bonds. If you're looking for potentially bigger returns, you might want a more aggressive fund that invests in Australian and international shares.

Likewise, if you're a long way from retirement, you can afford to be more aggressive as your investments have longer to recover from ups and downs. But if you're only a few years from retirement, moving away from riskier assets will help protect your super from significant market changes.

What about a life stage fund?

Super is about matching your attitude to risk with an appropriate investment strategy, and a life stage fund could help you do this with minimum worry.

Life stage funds change with you, giving you an efficient, well-diversified portfolio that is designed and managed according to your age. For example, when you are younger, your life stage fund will be more growth-oriented as you have more time to withstand the impact of market fluctuations on the value of your investment. As you move closer to retirement, your life stage fund will shift to a more conservative asset mix.

Find out more about tailored investments