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MasterStrategist

13,637 Posts.

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01/06/23

14:04

Post #: 68080017
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Originally posted by Hingdog: ↑

There needs to be limits put on the maximum draw down rates for super to ensure it lasts. The aged pension for a couple is $38k pa, if you didn't save during your working years beyond the minimum compulsory super then you can't expect some great lifestyle in retirement. As my example showed, a single person earning just $20k pa throwing in $20 a week extra would have nearly $500k super after 30 years, if they also had a partner working for part of that time it's going to be a lot more. That $20k is way too low btw, the minimum wage averaged over 30 years would be quite a bit higher

There are no excuses

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Your example showed a little over $250,000 over 30 years.
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