What's the average Australian superannuation balance at age 70 in 2024? fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
With just 30 per cent of Australians knowing their superannuation balance to the nearest $1,000, Findex has emphasised the role of financial advice in addressing the critical super knowledge gap.
The Super Members Council (SMC) has warned that encouraging young Australians to use their superannuation for a house deposit could dramatically drive-up house prices and deplete their retirement savings.
Unadvised Australians believe they need $2 million to retire comfortably, according to Colonial First State, a wide variance compared to advised individuals which estimate $1.3 million.
Australians believe they need $1.6 million to be financially comfortable in retirement, a new survey from Colonial First State (CFS) finds, but they cannot agree on what living comfortably looks like.