Meezan

How much Super do you need?

How much super you’ll
need when you retire.

How much super you’ll
need when you retire.

SUPERANNUATION

How much will you need?

Work out how much super you’ll have when you retire, and if it will be enough to fund the lifestyle you want.

You probably know how much super you have now, but do you know how much you’ll have when you retire? It’s never too soon to start planning for a better financial future.

The amount of super you’ll need when you retire depends on:

  • your big costs in retirement,
  • the lifestyle you want

Most people can now expect to live well into their eighties. This means that if you stop working at 65, you’ll need retirement income for 20 years or more.

ASFA Retirement Standard

Single

Couple

Comfortable Lifestyle

$44,183 a year | $849 a week

$62,435 a year | $1200 a week

Modest Lifestyle

$28,220 a year | $542 a week

$40,719 a year | $783 a week

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ASFA estimates that the lump sum needed at retirement to support a comfortable lifestyle is $640,000 for a couple and $545,000 for a single person. This assumes a partial Age Pension.

ASEA estimates that a modest lifestyle. which covers the basics. is mostly met by the Age Pension. They estimate the lump sum needed to support a modest lifestyle for a single or couple is $70,000.

Build up your super

Many things contribute to your income in retirement. This includes investments outside of super and assets such as your home, especially if you downsize. If you decide it is important to build your super, there are some actions that can make a big difference over time.

Think about:

  • Consolidating your super into one account so you pay fewer fees
  • Making extra contributions to grow your super
  • Changing your super investment options

If you don’t have as much as you’d like, it’s never too late to build up your super to boost your retirement savings.

If you need financial advice

Planning for your retirement is complex, and everyone’s situation is different. Think about getting personalised advice from one of our financial advisers to help you plan ahead.

What Our Clients Say

“We would like to express our thanks for the work you have done for us over the past years. The expertise and attention to detail with which you have handled our financial affairs could not be faulted. Particularly reassuring to us is our feeling of certainty in the absolute integrity of your dealings with us. Your continual advice on financial planning issues has saved us significant amounts of money. May you prosper, along with your clients.”

Dr Mutasim Sadiq

“We were very impressed with the support and updates provided by Irshad during our loan process. This process can be frustrating at the best of times and Irshad always made sure we were informed on the application progress. Thanks again for all your help.”

Rashed Mohammed Abu
IT Business owner

“I can’ t see how I could have organised this finance myself, given the difficulties with communication with the sellers and the solicitor, so we really thank you for all the chasing up you did for us.”

Dr Tabassum Hamid

“Meezan finance provided us an outstanding service throughout the whole application process. The staffs were very responsive to our needs, answered our telephone calls and emails promptly, followed up with sellers, solicitors and arranged property settlement for us. We are happy that through Meezan Finance we have achieved the best Islamic loan for our family’s needs. We have no hesitation in recommending Meezan wealth to anyone.”

Usman Saleem
Senior Technical Manager (IBM)

“Passion, knowledge and a genuine interest in achieving the best for clients is what makes a truly professional Financial Adviser. Rokibul always had this and more. His dedication to clients, business excellence and education sets him apart and I would highly recommend him to anyone wanting to achieve better financial outcomes.”

Sameer Syed
IT Developer (Inenco Group)

“I am absolutely delighted with your service. It is really refreshing to work with a financial adviser who is truly interested in their client’s needs, circumstances and preferences. What really impressed me was the way you took the time to get a feeling for where I was at, your depth of knowledge, lateral thinking and your common-sense approach. Your professional, ethical and caring demeanour elicits my trust and respect and I gladly recommend your services whenever possible.”

Amer Islam
IT Consultant

Get in Touch

Our qualified team are ready to assist you with your questions.

Talk to Us

1300 141 145

Bankstown:

Suite-104, 8 French Avenue, Bankstown, NSW 2200

Parramatta
(Appt only):

Deloitte Building, Level 15, 60 Station Street E, Parramatta 2150