Super Dreams for a Champagne Lifestyle in Retirement

A survey of 2,500 Australians suggests many are aiming higher than standard retirement benchmarks, with about a third hoping for more than $1.25 million in superannuation. Around the same proportion targets between $750,000 and $1.25 million, while the rest seeks up to $750,000. The findings come as MLC releases new modelling to help savers gauge whether they’re on track to retire at 67. MLC calculates a 40-year-old would need $174,400 for $750,000 at retirement and $288,800 for $1.25 million. The report describes “luxe” retirement above $750,001 and “champagne retirement” above $1.25 million, alongside steps such as proper age-based investing and, where possible, salary sacrifice contributions.