Today |
Carmela |
Anna |
|---|---|---|
| Current age | 50 | 50 |
| Income p.a before tax and super at start | $110,000 | $110,000 |
| Age at retirement | 65 | 65 |
| Starting super balance per fund1 | $99,520 | $99,520 |
| SG rate at start2 | 10% | 10% |
| SG contribution at start | $10,000 | $10,000 |
| Additional concessional contribution amount at start3 | $10,000 (or 10% of income) |
$0 |
15 years later |
||
|---|---|---|
| Age | 65 | 65 |
| Total super balance contribution amount at start3 | $414,429 | $266,280 |
15 years later, the difference between the two super balances is $148,349
If Carmella maximises the use of concessional contributions (ie, making additional contributions of $15,000 a year), she may have even more in super balance at retirement.
