With age pension eligibility seemingly set to be increased to age 70 for those currently around 48 and under, it’s increasingly important that we plan to fund our own retirement.
The couples rate of age pension is slightly above $30,000 and most would consider this to be a meagre retirement income if it was the only source.
So what is your number? If you were retiring now and assuming you have no loans and no kids to raise, how much would you need to live on?
- – how much for your basic living costs?
- – how much for the nice things like holidays?
Add to that the cost of capital items like updating the car or house renovations and you’re getting close to being able to calculate how much you’ll need to have to fund your retirement. Your number.
Don’t settle on a meagre retirement at age 70 (or later). Start thinking about your number and contact us to help you put the wheels in motion to achieving it.