Great question - based on the Association of Superannuation statistics - Around 320,000 individuals had total superannuation in excess of $1 million in 2019, with around 80,000 having more than $2 million. Around 11,000 had more than $5 million. Interestingly, there were 370 individuals aged under 30 with a superannuation account balance of $2 million or more.
@@AustralianExpatFinance IMO heaps with cost of living up, mortgage payments etc. And if you're earning $60 or $70k.... gooduck. Mate of mine retired a month back with $700k. Reckons on. $40k might last him til maybe 85.
Absolutely - it's certainly not without it's challenges on this income level. At this level (circa $700k), there'll typically be part-pension entitlements also, which will help in boosting the longevity of the funds.
