How Much Is ‘Enough’ In Retirement? by Dixon Financial Group
- By lemaster
- •
- 04 Aug, 2016
If you’re above the age of 40, you’ve probably stopped at some stage to consider whether or not your Superannuation will be enough to carry you into a comfortable retirement. The ASFA Retirement Standard* benchmarks the annual budget needed for either a comfortable or modest standard of living in the retirement years. A ‘modest’ retirement lifestyle is considered better than the Age Pension but still only able to afford fairly basic activities, whilst a ‘comfortable’ retirement lifestyle enables a retiree to be involved in a broad range of activities & enjoy a good standard of living (reasonable car, clothes, electronic equipment & occasional travel). Both lifestyle scenarios assume that retirees own their own home outright & are relatively healthy.
So how much will you need?
If a ‘modest’ lifestyle is what you budget for, at retirement (65yoa currently, soon to be 67yoa) a single person will need $23,438/annum and a couple will need $33,799/annum.
If it’s a ‘comfortable’ lifestyle you desire, your budget for retirement will need to look more like this: $42,569/annum for a single and $58,444/annum for a couple.
Will the Age Pension be enough for you in your retirement years? Is your Super balance in line with your retirement goals? For all the answers you need when it comes to retirement, call DIXON FINANCIAL GROUP today on 9721 4422.
*information from & more details available at www.superannuation.asn.au/resources/retirement-standard/
Special Guest: Sean "Polly" Pollard - Shark attack survivor to winter Paralympian. Taking the audience through some of the biggest and life changing events that he has been through, Sean delivers an inspiring presentation.
Please RSVP your attendance to renae@dixonfg.com.au or by calling 9721 4422.
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