Is your super on target?

Got enough super?

No matter how old you are or how much money you earn, now is the time to build your super. Use the retirement planner to work out what your retirement income could be and the small changes you can make to build your super.

Use the retirement planner

The retirement planner shows you:

  • your estimated super at retirement
  • your yearly retirement income
  • how fees, investment options and contributions affect your retirement income.
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The retirement planner will help you test out different scenarios and work out how to grow and add to your super.

How much super will you need?

How much super you need will depend on:

  • the lifestyle you want in retirement - According to the Association of Superannuation Funds of Australia (ASFA) a comfortable lifestyle for a couple costs about $60,000 a year and a modest lifestyle costs about $40,000 a year.
  • how long you're likely to live - People are generally living longer than previous generations. Retirees can expect to live well into their eighties and this means if you stop working at 65, you're likely to need retirement income for at least 20 years or more. Visit the My Longevity website to explore your life expectancy.
  • your big costs in retirement - Are you planning any major spending after retiring? For example, you do you want to pay off your mortgage, renovate your home, or travel? The more money you spend early in retirement, the less you'll have to live on later.

Boost your super savings

If you want to boost your retirement income you can:

Get financial advice

Planning for your retirement is complex and it's important to get advice from people with specialist knowledge. See financial advice for more information on how you can maximise your retirement savings.

It's never too early to start thinking about your super. Take steps now to get the retirement lifestyle you want.

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Last updated: 14 Feb 2019