We’d all like a crystal ball showing our nest egg at retirement. Failing that, a good place to start could be the retirement estimate on your annual statement.
how much super is enough
Chris (47) earns $180,000 per year and has $430,000 in super. Lisa (48) earns $80,000 per year and has $220,000 in super. They have one daughter at university and are close to paying off their mortgage. They want to know if they are on track to retire when Chris turns 60.
Dan (60) is a freelance web designer who earns $76,000 a year. He hasn’t always put money aside for super, so his balance is a relatively low $120,000.
There can be a bit of a learning curve with MoneySmart’s Retirement Planner, and it may appear intimidating at first glance, so we created a short video to help you get an understanding of how the tool works.
Deb is worried that she won’t have enough savings to live comfortably in retirement and, at age 52, wonders if she’s left it too late to catch up.
Amara Haqqani from Milliman discusses how the estimates we hear about how much super someone needs for retirement are limited because everyone’s needs are unique.