How Much Super Do You Need for a Comfortable Retirement?
Let’s break it down. For a comfortable retirement at age 67, if you're single, you'll need around $595,000 in your super. For a couple, that target goes up to $690,000.
This balance is translated into an annual income of $52,085 for a single, and $73,337 for a couple.
It’s important to keep in mind that these figures are not a one size fits all, and will differ based on your individual circumstances. It can change based on:
- Your ideal lifestyle in retirement
- Healthcare costs
- Whether you own your home outright or are renting/still borrowing
- Whether you have additional income sources or not
While these figures may seem high, with the right strategy and support, they’re achievable. The key is knowing your target, planning ahead, and getting started early.
Want to see how you’re tracking? This Moneysmart super balance calculator can estimate how much you may retire with.
Book a complimentary session with one of our Client Service Managers, and we’ll help you get on the path to a more secure retirement.
This content refers to information published in the Association of Superannuation Funds of Australia (ASFA) Retirement Standard (June 2024 quarter). https://www.superannuation.asn.au/resources/retirement-standard/
