<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Warren Morrison is living a full life on just $350,000 of superannuation and challenging the age-old belief that Australians need $1 million in their account before retirement.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The 67-year-old's career spanned local government, banking and media before he decided to retire in 2022. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I didn't have a million bucks, but I had a plan," he said.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/lauren-tomasi-shot-in-los-angeles-protests-anthony-albanese-responds/428fdfbe-4358-4ba0-8414-40cc4e0254dd" rel="" target="_blank" title=""><strong><span>PM says 9News reporter shot by rubber bullet was 'targeted'</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Morrison figured out how much he would need day-to-day, what brought him joy, and then built his retirement around that.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I'm not sitting still, I'm officiating weddings, hosting trivia nights, doing a bit of acting, and even judging roller skating competitions," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's not about being rich, it's about being purposeful. I still have my coffee and cake with mates. I'm careful, but I'm not missing out."</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/australiansuper-research-finds-australians-do-not-need-1-million-to-retire-comfortably/bc28ae43-818a-4913-8324-25e08b0fc32f" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>According to AustralianSuper, Morrison is one of hundreds debunking the myth that Australians need $1 million in superannuation to retire comfortably.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A YouGov survey commissioned by the largest superannuation fund in April questioned more than 1000 Australians who retired in the past five years. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It found that 94 per cent retired with less than $1 million in their accounts, and 54 per cent said they did not need $1 million to live well. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Another 89 per cent agreed that superannuation is not the only factor contributing to financial security.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The findings are true to the reality of most Australians aged between 60 to 64, who the Australian Tax Office say are retiring with a median super balance of $211,996 for men, and $158,806 for women.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/home-prices-australia-average-1-million-dollars/461fee7a-7bd8-4e21-83fd-82a612345a24" rel="" target="_blank" title=""><strong><span>Aussies sitting on massive $11.4 trillion jackpot</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>AustralianSuper estimates that single households wanting to live a comfortable retirement — with regular activities, eating out, owning a car, travel, and private health insurance — only need about $51,805 a year, while couples need $73,077.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>AustralianSuper Head of Advice and Guidance Ross Ackland said the research offered a more realistic view of what is needed to retire comfortably and that super was just "one piece of the retirement puzzle".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Some people think they need to be chasing a seven-figure balance to live well in retirement, but many Australians are thriving with less because they've planned around their lifestyle, not just a number," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The key to retirement confidence is to be realistic, understand your needs and make the most of all the tools available to you, whether that's superannuation, the age pension, good spending habits or even simple planning tools that help you get a clearer picture of what you might need."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Ackland added that future generations of retirees will continue to have better outcomes as compulsory super was only introduced in 1992.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><span>The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span></span><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. 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