how much super should i have at 35

how much super should i have at 35

1 month ago 2
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To determine how much superannuation (super) you should have, it depends on your age and the lifestyle you want in retirement. Here is a general guide based on a comfortable retirement by age 67 for a single person, according to the Association of Superannuation Funds of Australia (ASFA) and supported by various Australian superannuation sources:

  • At age 25: $26,000
  • At age 30: $66,500
  • At age 35: $111,500
  • At age 40: $168,000
  • At age 45: $226,000
  • At age 50: $296,000
  • At age 55: $377,000
  • At age 60: $469,000
  • At age 65: $571,000
  • At age 67: $595,000

To retire comfortably at age 67, a single person would generally need about $595,000 in super to provide an annual income around $52,383 including the Age Pension, assuming owning a home. For couples, the combined amount needed would be around $690,000, translating to an annual income of about $73,875.

If aiming for a more modest retirement, lower balances around $100,000 at retirement age might suffice, yielding lower annual income but still above the Age Pension.

Super balances can vary widely depending on personal goals and circumstances, so it is important to review your balance regularly and consider additional contributions or financial advice to meet your retirement goals.

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