Thousands of Australians have plunged into the share market since the pandemic began to find better returns than current low interest rates.
Yet investment experts say there's a more effective way of growing idle savings.
The influx of Aussies trying their luck with shares has been reported from a number of industry groups.
The trading arm of the Commonwealth Bank, CommSec, claims more than 230,000 accounts were opened in the first half of the past financial year.
Some of those retail investors might be happy with their progress. The ASX200 improved by 24 per cent in the past financial year and has had nine consecutive months of gains.
Yet the share market is not the only avenue for investing savings.
Many Aussies already have their money invested in shares, albeit managed by someone else, through their superannuation fund.
These fund managers are arguably better at generating good returns than the average Australian.
We're also paying fees on these funds, which beggars the question - shouldn't we be allocating our extra cash there given we're already paying for it?
The answer, according to two investment experts, is yes. Although not necessarily for these reasons.
Jonathan Philpot, a wealth management partner at HLB Mann Judd, named tax savings as the overwhelming reason to invest in superannuation funds.
While many of us associate superannuation with retirement life, Mr Philpot explained that investing in it can save you plenty of money here and now.
"A lot of people aren't concerned about superannuation until the last five years of their working life," he said.
"But the tax incentives of putting extra money in super have really become a lot more prominent over the years."
Mr Philpot explained the benefits using the scenario of a worker earning $80,000 per year.
Their employer would contribute 10 per cent ($8,000) due to compulsory super contributions.
However Australians can make a maximum concessional (before tax) contribution of $25,000 each year.
That means the worker in the example could contribute another $17,000.
Because these contributions are not taxed, the worker would save 34.5 cents (including the Medicare levy) in every dollar of that $17,000.
This is based on the income group of workers earning between $45,001 and $120,000 this financial year.
The worker's tax saving would amount to $5,865.
This is a considerable amount in addition to the benefits he or she should reap from investing the $17,000.
AMP Capital head of investment strategy Shane Oliver also said investing in superannuation should be preferred to shares, as a general principle.
Investing in shares did not give the same tax benefits as super did, he said.
Of course, people investing in super cannot access their money until they reach retirement age.
With this in mind, Mr Oliver said a person's financial goals should also be a consideration.
"If you're young, you may be saving for a house or to put the kids through school," he said.
These more immediate needs could complicate the scenario.