How much super should you have by now?
16 August 2021
When you think about your life after work, do you think about overseas holidays and regular leisure activities? Or will you be content taking day trips in your own city and taking part in free activities?
This could be the difference between a comfortable or modest retirement lifestyle or relying solely on the Age Pension.
ASFA (The Association of Superannuation Funds of Australian) have put together a detailed explanation of what a comfortable lifestyle looks like and how this compares to a modest lifestyle and a lifestyle relying solely on the Age Pension.
With a comfortable lifestyle you’ll enjoy a good standard of living with a reasonable car, good clothes, a range of electronic equipment and holidays.
A modest lifestyle on the other hand is better than living on the Age Pension, but only allows for basic activities and expenses. To enjoy a comfortable or modest lifestyle when you finish work you will need money in your super account.
Get your super on track to achieve the lifestyle you want. Check our retirement tracker to see how your super is tracking for your age compared to the average Australian and compared to how much you need to enjoy a comfortable lifestyle when you finish working.
This information is general advice only and does not take into account or consider your personal objectives, financial situation or needs. Prepared by BUSS (Queensland) Pty Ltd (ABN 15 065 081 281, AFSL 237860) as Trustee for BUSSQ (BUSSQ Fund, ABN 85 571 332 201).