
New research has revealed many people won't have enough money to support themselves when they finally leave work for good.
millions of Australians are facing a bleak retirement, as they don't have enough savings to support a comfortable life. New data from Finder* has found that many will be forced to work well into their 60s and 70s to build up their retirement savings before they can finally enjoy their twilight years.
Step 1: Select your current superfund below.
Step 2: Just answer a few basic questions, you will have the opportunity to review your super performance and compare multiple superfunds.**
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Super Balance!
This figure can differ depending on who you ask, but the Association of Superannuation Funds of Australia (AFSA) suggested it's $595,000 for singles, and $690,000 for couples.
The Association said if you live a modest life as a single person, you'd need around $33,386 per year.
That goes up to $52,383 if you want a comfortable retirement.
For couples, a modest retirement would require $48,184 per year, while comfortable twilight years would need $73,875 per year.
According to data from the Australian Taxation Office (ATO), the average Aussie has just $172,835 in their super account at the moment. The median however, is much lower at $60,037.
Step 1: Confirm your rough super balance
Step 2: Just answer a few basic questions, you will have the opportunity to review your super performance and compare multiple superfunds.**
Select Your Estimated Super Balance!
Many Australians are unknowingly losing thousands of dollars in retirement savings due to excessive superannuation fees. Even a small difference in annual fees can compound over decades, quietly eating away at the balance you’ll rely on in retirement.
For example, paying just 1% more in fees could reduce your final nest egg by tens of thousands of dollars. Unfortunately, many high-fee funds fail to deliver better performance, meaning members are simply paying more for less. By reviewing your super and comparing it against lower-fee options, you can take control and ensure more of your hard-earned money stays invested for your future.
Since launching, thousands of Australians have already jumped on board. Over 60,000^ Australians have contacted Boostursuper.com to review their superannuation performance, with the possibility of a better retirement being referenced as their number one reason for using the site.
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