POWERED BY MOMENTUM MEDIA
SMSF members reaching aspirational retirement lifestyles
Around 40% of self-managed superannuation fund (SMSF) couples and 46% of SMSF singles are on track to affording an aspirational retirement lifestyle, according to Accurium.
Pointing to Association of Superannuation Funds of Australia (ASFA) figures that suggest a 65-year-old couple needed to spend $100,000 per annum and $70,000 for singles to achieve an aspirational retirement lifestyle, and $61,522 per annum for couples and $43,601 for singles to achieve a comfortable lifestyle, Accurium said SMSF member figures were well above the comfortable standards.
Accurium general manager, Doug McBirnie, said: “However, our previous research has shown that many SMSF trustees are hoping to achieve more affluent lifestyles in retirement, with around a quarter of couples planning on spending over $100,000 per annum in retirement.
“Based on this aspiration, we estimate couples will need around $2 million in savings at the point of retirement. The good news is that 40% of 65-year-old SMSF couples and 46% of singles have saved enough to be confident of achieving an aspirational lifestyle.
“This demonstrates that people who take control of their superannuation with an SMSF are well placed to enjoy a higher standard of living in retirement.”
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
