Millions of Australians can't afford to stop working, according to new research by Finder.
A recent Finder survey of 1,017 Australians reveals a concerning gap in retirement readiness, with 20%—equating to 4.3 million people—admitting they won’t have enough money in superannuation or investments to sustain themselves in retirement. While ASFA recommends $595,000 for singles and $690,000 for couples for a comfortable retirement, the average super balance sits at $172,835, with a median of just $60,037, according to ATO data. An additional 20% of respondents expect to scrape by, but only with significant spending cuts, and 10% say their super is lacking but they’ll rely on other investments. Alarmingly, over a quarter (27%) are unsure if they’ll have enough at all.
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