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
One of the biggest advantages of buying off the plan is time. Unlike traditional property purchases with relatively short windows to round up the total finance, you will have at [...]
Banks can only offer their own products and policies. A broker provides access to multiple lenders, helping you compare options and structure a loan that aligns with your goals and [...]
If you dream of a new home but have nightmares at the thought of building one, an off-the-plan purchase may be the perfect compromise. Although you will not get to [...]
Superannuation is generally preserved until you reach your preservation age and meet a condition of release, such as retirement. There are limited circumstances where early access may be permitted, including [...]
The general appeal of a fixed rate is the rate of interest paid on a loan doesn’t change for a set period. That means when the lender puts its interest [...]
Financial planning may assist with: Setting clear financial goals Superannuation strategies Investment planning Personal insurance and risk protection Retirement planning Cash flow and budgeting Estate and legacy considerations Advice is [...]
Everyone is in a different financial situation. How much we can borrow will vary, because lenders will assess our borrowing power according to our income, expenses, and financial commitments. To [...]
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 [...]
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 [...]
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 [...]
You can spend less time saving for a deposit or even not need one at all, so you can get on the property ladder sooner You can borrow up to [...]
Now is always a great time to shop around or check that you have the right loan for your needs. We’re a great starting point. It will depend on what interest [...]
Recent legislative changes mean new SMSF borrowing arrangements for residential property are generally no longer available. However, eligible SMSFs may still be able to borrow to acquire qualifying commercial property [...]
Various incentives are still being dangled in front of first-home-buyers, which may add to the appeal of buying off the plan. Concessions vary across Australia and some have been curbed [...]
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 [...]
