I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Setting a Retirement Target: Surviving More Than $59,000 a Year

The most famous question regarding super and retirement is: Just how much cash is enough to last?

A convincing answer to such question might be: Enough money for what? When most Australians ask it, they want to answer this question: Just how much money you need during retirement in maintaining or improving the lifestyle I presently have till the day I depart? For some Ausies, the main concern also includes leaving with enough money to still help their loved ones.

A recent report from the AFSA Retirement Standard or ARS states that in order for couples to live comfortable lives during retirement they will require an after-tax earnings of over $59,000 annually in the present dollars (while singles require earnings of over $43,000 a year in today's dollars).

What Makes a Comfortable Retirement?

The ASFA Retirement Requirement defines 'comfortable' is relatively straightforward, and your concept of what makes a comfortable lifestyle may cost much more than $59,000 per year, which represents a substantial small number of Australians citizens, the thought of retiring on $59,000 annually during retirement isn't what they are expecting.

A commonly held belief is that if you need to survive over more than $59,000 per year, then it will not be possible to claim the government-funded Age Pension. Not always true, a minimum of till December 2016. From 1 January 2017 Nevertheless, the Age Pension possessions test is becoming much stricter, meaning that Australians with substantial properties will miss out on a part Age Pension, although they may be qualified for PART Age Pension even before January 2017.

From January 2017, instead of losing $1.50 from Age Pension for every $1,000 on the entire Age Pension assets threshold, a retiree will lose $3.00 of the Age Pension for every single $1,000 over the limit.

Continue reading to learn just how much money you have to build up to enable you to fund a 'cushy' way of life. Go to www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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