How you define ‘comfortable’ is a tricky one to answer. Everyone’s view is different and that means your needs will be different. By AFSA’s standard (https://www.superannuation.asn.au/resources/retirement-standard) means you can go on an annual holiday in Australia, eat out regularly and afford a bottle of wine. See here also for what a comfortable retirement entails ( http://www.superguru.com.au/retiring/how-much-super-will-i-need). As you
can see relying on the aged pension really only covers the basic living requirements.
No matter what your ideal retirement picture looks like it’s going to certainly involve one thing – money. Making plans in advance for how much income you’ll likely have in retirement and how much your preferred lifestyle is going to cost is the key to ensuring you have a comfortable retirement.
Have you considered:
- Starting to wind down the hours and commencing a transition to retirement strategy?
- Making additional contributions to super or your spouse’s super?
- Downsizing the family home and investing in an income stream to help fund your retirement?
- Do you have the right investment strategy so that your funds will last the next 20 to 30 years?
- Investing some money outside of super and diversifying your holdings?
Speak to us today and we can help you put together your plan to help you achieve this and many of your other goals.
Let us know how we can help