So you’ve done some analysis of your super and it falls short of what you estimate needing in retirement.
Don’t give up just yet as there things you can do about this situation…
Contribute more to super NOW
The sooner it is in your super account, the sooner it can be earning for you
Reduce your costs
This may have a small impact but it helps over time. Make sure you assess your super accounts – can you consolidate multiple accounts? are you paying reasonable fees for the services you are getting?
Even another year or two can boost your savings for a long and happy retirement
Don’t fully retire
Part time work or even seasonal full time work can cover living expenses and/or boost your savings, reducing the amount of super you need to have a comfortable retirement
Reassess your retirement expectations
If you reduce your costs a little, the total will last longer. Maybe that means one overseas trip a year instead of two, buying $20 bottle of wine instead of $30 bottles, replacing your car every 7 years instead of every 3 to 5 years, or spoiling the grandkids with activities rather than gifts.