Life Stages
In spite of the cost of living, it's still popular.
Are you on track with your super savings?
At this stage in life, "Am I on track with my super savings?" is probably one of the most frequently asked questions we hear.
While you are juggling a mortgage, child care and everyday living costs it is easy to forget about your super savings, but you really shouldn't.
Studies have found that people need about 60% of their current annual income in retirement. So if you are currently earning $50,000 you may need approximately $30,000 annual income in retirement.
So how much do you need to save now?
Why not take a look at some handy calculators that can give you an idea on how much you should be putting into super now. This can help you see how much you may be able to save for retirement and whether you are on track to achieve the type of retirement you want.
It's important to take control of your super now and find out what choices you have while you are working and when you retire.
Keep track of your super. Check how your investments are growing and find out what your final payout will be. Then, decide if you need to make extra contributions to help your super savings grow.
If you're not sure whether you have enough super, talk to a financial advisor.
