There’s no single benchmark that applies to everyone. The amount you need in super depends on your lifestyle goals, retirement age, other assets and whether you expect to receive any Age Pension benefits.
While industry “rules of thumb” can provide a rough guide, they don’t account for individual circumstances. A more meaningful approach is to assess how much retirement income you’ll need — and whether your current super trajectory is likely to support that outcome.
Superannuation advice focuses less on comparing balances and more on understanding whether your strategy aligns with your long-term objectives.
Other FAQs
During the accumulation phase, contributions are made into super and earnings are generally taxed at concessional rates. Once you transition into retirement and commence a pension, income may be drawn [...]
No, if your financial situation changes after you have received pre-approval, your situation will need to be reassessed. This could be because you have changed jobs, had changes to your [...]
Go to our Repayment Calculator for an estimate. Because there are so many different loan products, some with lower introductory rates, talk to us today about the deals currently available, and we’ll [...]
Not always. Some finance options allow you to borrow the full purchase price, while others may require a deposit depending on the lender, asset type and your financial position.
To provide tailored financial advice, we’ll need to understand your current financial position, goals, and personal circumstances. This may include information about your income, expenses, assets, liabilities, superannuation, existing investments, [...]
Consumer finance is typically used for personal purchases, such as a car for everyday use. Commercial finance is designed for business purposes, such as vehicles, machinery or equipment, and may [...]
Insurance is not mandatory, but if your financial plan depends on your income or ability to provide for others, having appropriate protection can reduce financial vulnerability. The purpose of insurance [...]
Most banks do not allow extra repayments on fixed loans. Some banks allow you to make extra repayments on your fixed home loan of up to $10,000 per account which can be [...]
The cost of advice depends on the complexity of your situation and the type of advice provided. All fees and any commissions (where applicable) will be clearly disclosed so you [...]
Yes. Insurance can be held either inside or outside superannuation, and sometimes a combination of both is appropriate. Holding cover outside super may: Provide greater flexibility in certain claim situations [...]
SMSF commercial property loans are specialised lending products designed for eligible Self Managed Super Funds acquiring qualifying commercial property. Depending on the lender and structure, common features may include: Variable [...]
Approval timeframes can vary, but many asset and vehicle finance applications can be processed relatively quickly, sometimes within a few days. More complex commercial applications may take longer depending on [...]
Salary sacrificing can be an effective way to build retirement savings tax-efficiently, particularly for higher income earners. Concessional contributions are generally taxed at a lower rate than many personal marginal [...]
Shares and property can both play a role in a diversified wealth strategy, but they serve different purposes and carry different risks. Shares and managed investments typically offer: Liquidity (easier [...]
Many people accumulate multiple super accounts throughout their working life, which can lead to duplicated fees and unnecessary complexity. Consolidating accounts may reduce fees and simplify management, but it’s important [...]
