I had this plan to retire at age 55 by making small savings contributions and super from a government job (15.4% income) with an additional 5% salary sacrifice. Starting salary of around 50k plus super... seemed like a good idea or a good goal to work towards. After 30 years I would have a small fortune ready for me. I know its jumping the gun but if you've got to do something, it might as well let you retire early. I'm 25 right now.
I have found out that I won't be able to draw on super until age 60 or 65. Which makes my whole plan pointless. Does anyone know how it actually all works ?
But if you put all that effort into your superannuation and make contributions over 30 years why shouldn't you be able to enjoy a relatively early retirement ?
I might not even live to be 65.. This kind of ruins things for me. I had this vision of being able to retire at around my Dads age (he is 53). Partial retirement anyway. I'd go onto teach part time and spend my super. I thought it was a good plan....
I have found out that I won't be able to draw on super until age 60 or 65. Which makes my whole plan pointless. Does anyone know how it actually all works ?
But if you put all that effort into your superannuation and make contributions over 30 years why shouldn't you be able to enjoy a relatively early retirement ?
I might not even live to be 65.. This kind of ruins things for me. I had this vision of being able to retire at around my Dads age (he is 53). Partial retirement anyway. I'd go onto teach part time and spend my super. I thought it was a good plan....