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Most Australians wrong about total savings required for comfortable retirement, expert says – by Emma Wynne Source:abc.net.au Confusion about how much in savings and superannuation is really needed to sustain a long period in retirement means many people are unnecessarily anxious and not making the most of their money, research has found. Super Consumers Australia, which is attached to consumer organisation Choice, researched retirement incomes. SCA director Xavier O’Halloran told Geoff Hutchison on ABC Radio Perth they found many people believed they needed $1 million in savings to have a truly comfortable retirement. “When we reviewed a lot of the commentary on how much you need to save for retirement, we see this figure coming up a lot. It’s often from groups or individuals that might have a self-interest in you having more and more savings,” he said. “They are all, of course, clipping your ticket in fees for managing that money, so ...