The Age-Old Retirement Question: How Much Do I Need?

This has been the lingering question for retirees – how much do I need on my super to retire comfortably? Do I have to rely on aged pension?

A study by Deloitte gives us an overview of how much retirees from the different generation group will get from their super upon retirement. According to the research, in order for a retired Australian to live a sufficient lifestyle, current male retirees need a total of $330,000 in superannuation to support themselves at $22,654 annually. For female retirees the numbers are slightly higher at $360,000. Living a comfortable lifestyle requires almost double those values, $590,000 and $660,000 for men and women respectively.

For Generation X, the numbers are promising. A 30 year old working on the annual average income of $60,000, the study forecasts that they will retire with $1.1 million in superannuation funds.

Read more about this on the Property Observer website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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