Annual holidays or permanent holiday?

We’ve all been house-bound this year, so many people understandably find themselves dreaming about their next big holiday … whenever that will be! 

And if you’re guilty of looking at travel destinations and planning your next big holiday, you’re not alone. In fact, according to travel industry research, the average person spends 10 hours planning each holiday they take, with Gen Z and millennials prioritising travel more than anyone else.

Now it seems crazy to think that we spend countless hours planning our next holiday, but little to no time planning the longest ‘holiday’ we’ll ever take – retirement! The problem is, spending so much time planning a holiday in your short-term future won’t pay off. Planning your long-term holiday – retirement – will.

Travel insights

Things you can do now for an insta-worthy retirement

The fact is, if you could put as much energy into planning your retirement holiday as you do for your annual vacation, you’d be in a great position down the track.

That’s not to say put today on hold for the sake of your future; it’s just about doing a few small things now that can really make a difference to your super balance in the future:

Know how much you’ll need

One of the first things we do when planning a holiday is to come up with a holiday budget, which determines how long we can vacation, how much we can spend and what types of activities we can enjoy, to name a few. 

The same goes for retirement: how much you have at retirement will determine how well you can live once you’ve stopped working. So how much do you need? To give you an idea, ASFA* estimates that a couple aged between 65 and 85 needs around $62,000 per year to maintain a comfortable standard of living in retirement*.

Retirement will probably last a lot longer than you think. In fact, on average we spend 25 years in retirement, so it’s important to have enough saved that will go the distance.

Do you know much you’ll have for your retirement? To help you work it out, use our Calculators.

* Source: ASFA Retirement Standard –

Make additional contributions

Make some voluntary contributions on top of your employer’s contributions – they don’t even have to be large amounts. By starting early and small, your hip pocket won’t notice the difference, but your super balance WILL notice it down the track!

See for yourself how much of a difference small, but regular, contributions will make – try our Retirement Income calculator.  

Choose how your money is invested

Super will likely end up being one of your biggest investments, so it’s important to keep an eye on your investment strategy over time to make sure it lines up with your financial goals. 

And because you can’t access your super for a long time (sorry!) you can afford to take a long-term approach and invest in higher-growth options that will deliver greater returns over time. And while there will be negative years here and there, overall you’ll benefit from positive returns.

If you’re unsure about your investment strategy, you can get advice from one of our financial planners free of charge, over the phone. Simply call Member Services on 1800 757 607 to book a call with a financial planner. 

Combine your super accounts

Having several super accounts means that you’re paying several sets of fees, and that’s not on - this will cost you over time. Make your super work efficiently and keep it all together.

You can combine all your super accounts into your Maritime Super account online here

The information on this page has been issued by Maritime Financial Services Pty Limited (MFS). It contains general information that doesn’t take into account your individual objectives, financial situation or needs. It’s important to consider how appropriate this general information is in relation to your situation before making an investment decision. We recommend that you seek financial advice before making any decisions regarding your super or investments. The information on this page is current at the time of publishing.