How much superannuation do I need?
How much super you’ll need to have saved by the time you retire will depend on:
- your expectations for things like travel, eating out, and helping out children and grandchildren;
- whether you’ll have any other income, such as part-time or casual work; and
- any debts that will continue after you’ve stopped working, such as your mortgage.
The Association of Super Funds Australia (ASFA) has estimated that a comfortable retirement costs $46,494 a year for a single person aged 67 and $65,445 a year for a couple ages 67*.
* ASFA Retirement Standard, www.superannuation.asn.au, June Quarter 2022.