Working out how much you need to save for retirement is a question that keeps many pre-retirees awake at night. Recent market volatility and fluctuating superannuation balances have only added to the uncertainty.
The ASFA (Association of Superannuation Funds of Australia) provide a breakdown of estimated expenses for both comfortable and modest lifestyles, for couples and singles to maintain a healthy, vital and connected lifestyle in retirement.
This is for retirees aged between 65-84 who own their own home, with expenses represented at the end of December 2024.
Source: https://www.superannuation.asn.au/consumers/retirement-standard/
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