SuperGuide

Superannuation and retirement planning information

Plan your retirement

Plan your retirement

People often don’t start thinking about retirement until they are about to stop work or have the decision forced on them. And that’s a wasted opportunity.

Now that we are living longer, retirement may last three decades or more. That’s a long time to regret not doing more to plan and save for a personally fulfilling, financially secure retirement.

With a little planning, you can make a big difference to your retirement outcome.

As a starting point the article How to plan for your retirement outlines how to start planning for retirement in seven easy steps. This includes thinking about your dream retirement, how long it might last, what it will cost, how much you need to fund it, how much you have now, whether your savings are on track and what you can do to close the gap.

Click the links below to learn the fundamentals about planning for retirement:

As a first step, the following are key articles that cover planning your retirement.

Set out below are the latest articles that relate to plan your retirement.

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Is $500,000 in super enough to retire on?

According to the ASFA Retirement Standard, a couple can live a ‘comfortable lifestyle’ with a retirement balance of $640,000 while singles can enjoy the same with $545,000. But these are guidelines only.

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Is $750,000 in super enough to retire on?

A million dollars is often talked about as the gold standard of retirement savings, but it is a suspiciously round number. Depending on your personal circumstances, you might live well on much less, say $750,000, especially if you are not a big traveller or you intend to continue working well into your 70s.

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Is $2.5 million in super enough to retire on?

A million dollars is often cited as the gold standard of retirement savings. It certainly sounds like a lot of money, but it may not provide the income you require if you are a couple or if one of you has high healthcare needs.

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Is $1 million in super enough to retire on?

A million dollars is often bandied about as the gold standard of retirement savings. It certainly sounds like a lot of money, but is it enough to retire on not just comfortably but in style?

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Is $1.7 million in super enough to retire on?

Since 1 July 2017 there has been a limit on the amount you can transfer into a super account in pension phase. The question is, is this an arbitrary figure dreamed up by bureaucrats or is it enough for a dream retirement?

Super to income Reckoner

SuperGuide’s Super to income Reckoner can help you quickly and simply understand approximately how much retirement income your super savings might be able to generate.

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How much super do I need to retire on $100,000 a year?

The widely-reported ASFA Retirement standard suggests couples can enjoy a ‘comfortable lifestyle’ on just over $60,000 a year while singles can do the same on around $43,000. If that sounds less than comfortable to you, perhaps an income of $100,000 a year is closer to the mark.

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How much super do I need to retire on $80,000 a year?

So, you’ve done some preliminary sums and think you will need around $80,000 a year to live well in retirement. The ASFA Retirement standard suggests couples can enjoy a ‘comfortable lifestyle’ on around $60,000 a year and singles on about $43,000 a year. By this yardstick, $80,000 a year should support a more than comfortable retirement.

Important: Disclaimer

All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.

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