How Much Super You Need For A Comfortable Life
$80,000 a year, tax-free, just to live “comfortably” after work? That headline number can feel like a punch in the guts, especially when you open your super statement and realise you’re not close. We sit down with superannuation specialist Marco Millardo to break down what sits behind the ASFA Retirement Standard, why the cost of a comfortable retirement is rising with inflation, and how those annual spending targets translate into the lump sums people talk about (around $730,000 for couples and $630,000 for singles under common assumptions).
From there, we get practical. We walk through how to build a retirement budget that actually matches your life, using your current spending as the base, then checking it against tools on the ASFA site and the government’s MoneySmart calculators. We also talk about the “retirement spending curve”: why the first five to ten years can be the biggest spending window, why many retirees underspend out of fear, and how planning in stages can reduce anxiety without cutting joy.
We answer listener questions on transition to retirement, including the 10% annual draw cap and the easy-to-miss tax detail that it’s not automatically in a tax-free environment. We also tackle the big issues that change everything: renting versus owning, mortgage pay-down versus investing, aged care and nursing home costs, and how the age pension can affect the gap you need to fund.
If you’re 50+ and doing the mental maths right now, this is a calm, numbers-based reset. Subscribe, share with someone who’s planning their retirement, and leave us a review so more Australians can find the help they need.
DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg