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Will your superannuation be enough? Australian retirees are exhausting their superannuation savings

Updated: Apr 21, 2021

According to ASFA (Association of Superannuation Funds of Australia), around 80% of the population aged 60 and over who died between 2014 and 2018 having no super left in the 4 years period before their death.

Having investment income outside the super is necessary to ensure you will retire comfortably. For this to happen, you will need to have sufficient savings during the wealth accumulation phase. It is advisable that you should gain some essential knowledge in managing your own finance, from budgeting, savings to investing wisely. Learning how to manage your own finance as soon as you can will help you protect your savings for the future investment.

We recommend you to approach our professional financial coaches who understand your situation and help you to improve your weak areas in finance. The more personalised the coaching session is, the better results you will achieve.

During your pre-retirement phase, you are already investing your savings. This will help you to grow your net wealth. Once you reach retirement age, there are some useful strategies/approaches to retirement investments that you might be benefited from.

Approach 1: There will be no change comparing to the pre-retirement strategies

Approach 2: Conservative approach will be used in asset allocation to ensure more defensive assets are allocated in your portfolio

Approach 3: Rebalancing with cash buffer strategy

Approach 4: Rebalancing with future liabilities/assets

Approach 5: Structuring income streams using annuities/bonds

Source: ASFA

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Disclaimer: The information provided is general information only. It does not take into account your circumstances. It’s important to consider your particular circumstances before deciding what’s right for you. You should not rely solely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss by or damage to the reader or any other person.

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