Saving for retirement
What does retirement look like to you? Your goals for this stage of your life dictate how much money you will need to turn these goals into reality. The good news is there is plenty you can do now to help bring you closer to achieving these goals, whatever they may be.
How much super will I need?
This is a very personal issue and comes down to a number of factors including when you would like to stop working and how you would like to spend your retirement.
However, as a guide, the Association of Superannuation Funds of Australia (ASFA) tracks the cost of living in retirement. The latest figures suggest a couple wanting a comfortable lifestyle in retirement will need $59,759 each year while a single person will need $43,482 each year1.
Will I have enough super?
Our Retirement income calculator can help you work out how much super you’ll have when you reach retirement and how long it will last. You can also see how changes to your contributions, retirement age or investments can affect how long your super might last.
How can I boost my super?
Our handy 5-step super guide can help put you on the right track to maximising your retirement savings and achieving a stronger financial future.
1. ASFA Retirement Standard December Quarter 2016 – Queensland. Figure quoted for a single person is based on a single female living in Queensland.