How far will your super take you?
Wondering how much you will need in super and how to go about building enough super savings to provide you with the retirement lifestyle you’re hoping for?
Let’s look at the options available to Daniel and Alison and the different retirement outcomes each option offers.
Daniel is 35 and receives a salary of $60,000 a year. He and his wife Alison, also 35, own their own home. Alison does not receive an income. Apart from their home and $40,000 Daniel has saved in his super account, they have no financial assets.
Case study 1 – Additional contributions make a difference
Thinking about making extra contributions to super? In case study 1 we look at the difference extra personal contributions have on Daniel and Alison’s retirement savings.
Case study 2 – Making contributions early increases their power
Wondering when to start making extra contributions to super? In case study 2 we look at the difference contributing extra amounts into super earlier rather than later has on Daniel and Alison’s retirement savings.
Case study 3 – The impact on early retirement
Considering retiring early? In case study 3 we look at the effect retiring at age 60 instead of 65 has on Daniel and Alison’s retirement savings.
