The need to understand retirement better
Australians are living longer and continue to have one of the longest life expectancies in the world.
For a couple currently aged 60, there is an 83% chance that at least one of them will live until the age of 85. Based on today’s life expectancies, 75% of your retirement will be a healthy one. This means that if you live until the age of 87, you could be quite active until the age of 80. With enhancements in health care and medical technology, people are living a better life for a longer period of time.
Up to 50% of all Australian’s cash in their superannuation’s as lump sums at retirement. Up to 44% of all retirees use their superannuation’s to pay out home loans and other debts still owing at retirement. Current legislation allows tax-free income withdrawals from superannuation for retirees over the age of 60. Why exit a tax-free environment?
Centrelink Age Pension
What do I need and Where do I start?
The Association of Superannuation Funds of Australia (ASFA) has estimated that a couple leading a comfortable lifestyle in retirement needs an income of approximately $58,000 per annum. We know that you could need this level of income for over 30 years. How much should you have in place at retirement to enjoy a comfortable or even modest lifestyle?