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How much do you really need to retire? It’s probably a lot less than $1 million

By Angel Zhong, Professor of Finance, RMIT University

Every few months, someone in the superannuation industry declares that Australians now “need” around A$1 million to retire comfortably. It’s a big, scary number.

But consumer advocates say most people can retire with far less.

Independent estimates suggest something closer to $322,000 is enough for many retirees who own their own home. So who’s right – and what assumptions drive these wildly different targets?

…

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