Would Americans be wealthier with Superannuation or worse off? 🇺🇸 vs 🇦🇺

For those who don’t know, in Australia an employee must make a mandatory contribution of 11% of your salary into a managed retirement fund, it’s non-negotiable.

The short of it:

• You cannot access those funds until you’re 60, to increase compounding returns

• Tax breaks exist for those who make additional contributions to their super funds

• The downside is the government has a habit of changing access age, tax offsets, and rules on where you can spend that money.

The Result:

🇦🇺 From the data I’ve seen the average Australian retires with median of US $250k.

🇺🇸 The average American retires with a median of around US $200k.

That said, numbers don’t always tell the whole story.

What do you think

Which country has the better retirement scheme? And why?