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

Super Advice - How Much Money You Will Need to Retire in Australia

First Thing’s First

First off, you must determine at what age you need to retire. 50, 65, or later? And with advances in medical science, you can expect a longer life expectancy which could go to 40 years or more in retirement. So you need to work out how much money you need to meet your lifestyle expenditure during retirement. These could include:

• Paying the bills
• Making medical costs
• Putting food on the table
• Holidays
• Shopping
• Gifts
• Entertainment
• Helping the kids

There are many more lifestyle needs than the once mentioned above. You need to have more annual income in your retirement years than you do during your working years as you will be travelling more and do many things you haven't done while working.

You also need to determine what income for retirement will be available in your superannuation investments. This will help you ascertain the gap between what you have and how much money you will-will need in retirement. By working closely with an accountant and financial adviser, they will be able to put in strategies with your investments in superannuation to close the gap.

Some things could be considered, and superannuation is among the best options. Even a self-managed super fund can be an excellent choice. Today people want to take control of their retirement assets and choose to manage it themselves by investing in properties, including residential and even their business premises.

So it's important to get good professional advice, help you plan towards a comfortable lifestyle during retirement. If you wish to opt for such information, you set a free consultation without administrators by calling 1300 252 167

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