What I Wish I Knew About Small Business – Ep. 3: our Business Is Not Your Retirement Plan with Julie Slapp (A Media Magnet Special Series)
Media MagnetShow Notes
There are 2.2 million self-employed Australians. Nearly half of small business owners aren't contributing to their own super. And most of them are telling themselves the same thing: my business is my retirement plan.
In this episode of What I Wish I Knew About Small Business, brought to you by AMP Bank GO, Liz Nable sits down with Julie Slapp, Director of Growth and Customer Solutions at AMP Super, to unpack why that plan is riskier than it feels, and what to do about it without adding another overwhelming job to your list.
This is not a lecture about being behind. It's a super practical conversation for business owners who have been putting their heads in the sand about superannuation, whether that's because cashflow is tight, the rules feel impossibly complicated, or retirement feels like future you's problem. Julie breaks down the jargon, the incentives most business owners don't know exist, and the small moves that quietly build a safety net while you get on with running your business.
If super makes your eyes glaze over, this is exactly the episode to listen to the end.
In this episode Liz and Julie cover
Why superannuation was designed for employees, and the incentives built in for small business owners that most never use
The "I want to live now" question: is it valid to prioritise travelling with your kids over building wealth for a future that may never come?
Why we're the pioneer generation of super, and why nobody is on the perfect mathematical path to retirement
Whether a $20 a week contribution is even worth it (spoiler: yes), and why $100 a week from age 30 can grow to roughly $500,000 by retirement
Concessional contributions explained in plain English: the tax deduction, the 15% rate, and the annual cap of just over $32,000
The May reminder every business owner should set, and the conversation to have with your accountant before 30 June
Catch-up contributions for lumpy, seasonal or unpredictable income, so a lean year now doesn't lock you out later
Government co-contributions of up to $500 a year, and who qualifies
Spouse contributions and contribution splitting: how couples can grow super as a shared asset even when one of you is self-employed
The Blind Side analogy: why super is the left tackle protecting you if the business doesn't go to plan
Why it's never too late to start at 50, 55 or 60, especially for the fastest growing group of new founders: women in midlife
Why selling your business as your retirement plan makes a financial planner non-negotiable, and the $100,000 CGT mistake you don't want to discover at the end
The practical first steps: find your balance, get simple contribution advice from your fund, and hire an accountant who plans rather than just lodges
A line worth writing down
"I don't think there is too late. I think there is 'I just need to start.'" — Julie Slapp
About Julie
Julie Slapp is the Director of Growth and Customer Solutions at AMP Super. An economist by training, Julie spends her days talking to customers and working out how to help everyday Australians prepare for retirement with confidence, not anxiety. She comes to the conversation with a small business lens too: her uncle ran a newsagent, and she's watched firsthand how founders push their own retirement to the bottom of the list while they build something for everyone else. Her message is simple: the system may have been designed for employees, but the incentives are there for business owners who know where to look.
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