Step 4: Do a financial stocktake today

Step 4 of my Six-Step Wealth Check — conduct a financial stocktake — is reasonably straightforward. You locate all of your superannuation accounts and then you count up the value of all of the superannuation that you currently have. You then do the same with your other savings and investments (if any) — cash, term deposits, shares, investment properties. (Chapter 10 has tips on how to find lost super.)

Table 4.2: how much super is enough for a modest or comfortable lifestyle?

Notes:

• The lump sum amounts are calculated using the ASIC MoneySmart account-based pension calculator and the ASIC MoneySmart retirement planner calculator. The lump sum amounts are in today’s dollars and assume retirement at the age of 65, or at age 67.