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 Money for Retirement

You don't have to complicate things because you can keep it simple. You first need to think of:

• They type of lifestyle that you want.
• The amount of money you want to spend in retirement.
• The age in which you want to retire.

How Much Do You Need?

People have no idea how much super money they need to create a retirement income stream. So let's talk about the numbers here. The ASFA or Association of Superannuation Funds of Australia has a retirement standard. It gives you a rough guide to how much you need in retirement.

A couple who will be retiring at the age of 65, with a life expectancy of 20 years more, they would need the following amounts:
• For moderate lifestyle they will need $431,000 lump sum based on the basic standards. They would also need about $33,000 per annum in income.
• Comfortable lifestyle for a slightly more comfortable lifestyle in retirement, we're looking at $744,000 lump sum which is going to give you about $57,000 a year.

One advantage of having superannuation is you don't have to pay tax once you reach the age of 65. So if you're asking when it the best time to access your super, then 65 is arguably the best age. From then on, you can depend mainly on your super money and other sources if you have one.

You can jump online at www.australiansuperfinder.com.au and take a look at the Super for retirement page. If you're worried about this and want to answer some questions you have in mind, you can also opt for a financial adviser. You can consult with our experts by calling 1300 252 167

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