How Much You Should Have In Your Super (By Age)

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How Much You Should Have In Your Super (By Age)

Рет қаралды 7,087

Irene Zhu

Күн бұрын

Пікірлер: 45

@IreneZhu 5 ай бұрын

I hope your Super Balance looks good! Be a smart Value investor by using Seeking Alpha Premium to get 20% discount with 7-day trial: www.sahg6dtr.com/392M6MZ/R74QP/ Build a data-driven portfolio for capital appreciation - Alpha Picks by Seeking Alpha - get 10% discount by using this link: www.sahg6dtr.com/392M6MZ/J8P3N/

@Woodland26 4 ай бұрын

The best gift I could think of is to help my adult children's super balance. Instead of leaving them an inheritance many years later, I could add an extra 15k to their super fund each year. They have time on their side and that would grow to a much bigger amount than what I could ever imagine.

@Hunty49 Ай бұрын

I think some of the best advice would be while you are young, 18-24, do a super co-contribution of $1,000 (after tax) and the government will add $500 at tax time. Just make sure your super fund has you TFN. Or if possible, do it for your kids since you earn more.

@JohnSmith-sj2dk 5 ай бұрын

Apparently we are a 60 year old couple with the savings of a 34 year old - good to know , Thx very muchly.

@IreneZhu 5 ай бұрын

Hi John, the data is only about the median average of Super Balance, any investment outside Super fund was not counted.

@DavidAlsh 5 ай бұрын

Damn, I wish I knew this at 5 years of age

@dasa-brainwash850 4 ай бұрын

Loving your videos. Thanks Irene!

@IreneZhu 4 ай бұрын

Thank you for your TIME to watch :)

@zo_471 4 ай бұрын

Thanks, this is really reassuring ❤

@aussietaipan8700 5 ай бұрын

Super needs to be taught in schools from an early age, start in simple and work it to more complicated learnings as they go through school. I'm good with a just over 7 figure super, 300k in shares and a beach holiday house and no debit. I started my own super when I was 17, just before the last ice age.

@joshuarasmussen641 5 ай бұрын

This isn’t a good strategy anymore as we have 1 Trillion Usd of debt every quarter and with compounding , your money is worthless in 40 years as a 24 year old (me). 1 million bucks will be sub 100k, or even 50k usd. Or maybe we’ll have deflation and services/goods will be cheaper as technology becomes better. Who knows.

@corpojp6624 2 ай бұрын

I really enjoy your videos, could you also do a super savings but net worth by ages etc? There is a lot of talk about Net Worth and could you explore this in combo with the super savings ?

@IreneZhu 2 ай бұрын

Thanks for your time to watch, I have a video about the net worth kzbin.info/www/bejne/q2fahGZ-eJV4aacsi=vy1p5nxmqoBXllxw a video about income, home equity, net worth, Super by age is coming up this week or next week.

@stevejackson1977 5 ай бұрын

Great video Irene, thank you.

@IreneZhu 5 ай бұрын

Thank you Steve!

@adamhend3211 3 ай бұрын

Very well done videos. I think you should slow down a little to make it easier for everyone to understand. English is my only language by the way.

@IreneZhu 3 ай бұрын

Thanks for your feedback.

@selgeaus 2 ай бұрын

Currently 46 and have around $325K in super - I put $50 each fortnight after tax. My 19 year old daughter has started to put $20 each fortnight into her super.

@selgeaus 2 ай бұрын

Current salary of around $122K

@IreneZhu 2 ай бұрын

Thanks for sharing!

@bilders6701 5 ай бұрын

All these figures apply to right now, definitely. But in 10, 20 years, they are going to substantially higher - especially if the rate of inflation and the cost of living continues to spiral beyond record levels.

@mangoman9290 5 ай бұрын

Super employee guarantee moved to 9% in 2002, so really only people under 42 will have what I would describe as the opportunity to have a full working life with guaranteed adequate super contributions. Considering this, it is of no surprise that those older than 42 will be falling significantly short of the recommended Super by age benchmarks. (Note - I dont consider the 3% from 1992 to 2002 to be a adequate. Its was better than nothing but falls significantly short by todays standard)

@IreneZhu 5 ай бұрын

I agree, the Superannuation Guarantee is only around 32 years.

@SpookFilthy 3 ай бұрын

Well it's harder for younger generations to own their own home outright so there's that.

@myyoutubeid5451 2 ай бұрын

It seems to me that a thirty year old will retire in 35 years and the amount required will be vastly more due to inflation, you need to take into account the future amount to retire, not todays amount, that only applies to 67 year olds

@evlaw1988 5 ай бұрын

Is your balance for a 35yr old couple ($101,500) to achieve a comfortable retirement based on each individual, therefore a combined balance of $203k?

@IreneZhu 5 ай бұрын

It is the figure for both couples and singles depending on the household income, you can plug your figures into this calaculator moneysmart.gov.au/how-super-works/superannuation-calculator

@SpookFilthy 3 ай бұрын

The figures reported are for individuals (comparing balance to individual target at each age group) so if you're a couple and you combine your balances your target is relatively less (due to shared costs etc).

@bradnm495 4 ай бұрын

These figures ($595/$690) have not changed since 2014. Now think of how much inflation there has been in the last 10 years. These numbers need to be updated. Realistically you need double that, ($1.2/$1.4).

@SpookFilthy 3 ай бұрын

not correct - the numbers are adjusted using an AWE (average weekly earnings) deflator of 2.75%. You could argue this is not enough but the numbers are adjusted. The biggest assumption in the figures is that you have no debt and own your home.

@bradnm495 3 ай бұрын

@@SpookFilthy they're not adjusted, because they have not changed in the decade I've been referring to it.

@SpookFilthy 3 ай бұрын

@@bradnm495 rubbish i just checked a 2017 article that had 640k for couples 545k for singles. $43,538 for singles and $59,808 for couples. These are now $72,148.19 for couples and $51,278.30 singles.

@navdeepchana4725 3 ай бұрын

Hi Irene zhu I came accross to your video while searching some info regarding super. My wife is housewife , can i open up her super account ? If yes can you explain more how should we manage it . I can easily contribute $300-400 a month or $100/week Thanks im Advance

@IreneZhu 3 ай бұрын

Hello, your wife can open a Super account even she's not working. However you'll need to evaluate if this is an optimal way in terms of tax saving. Does making after-tax contribution have the same effect on opening investment bank account outside of Super?