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

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