Ask how much Australians need for a comfortable retirement and you may as well ask, “How long is a piece of string?“
People’s ambitions and circumstances vary endlessly; however, there are some useful guides.
They include handy reckoners from the umbrella group representing the nation’s superannuation funds and even from super funds themselves.
Staying afloat: individual assets and ambitions dictate the definition of a comfortable retirement. Credit: Getty
The Association of Superannuation Funds of Australia (ASFA) offers a range of estimates for couples and singles aged between 65 and 84 years, based on those who own their own homes with no mortgage.
ASFA calculates that couples in that age group need $75,319 a year to retire comfortably and $49,992 for a modest retirement. Sin