Is it ever too late to get Retirement Ready?
How much money do you need in retirement?
It’s an intriguing question that is often difficult to answer as there are various ways of assessing your requirements.
Ellerfield has come up with a method to help get you retirement ready:
The 10:30:60 Rule
- 10% of your retirement spending power is attributed to contributions made during your working life
- 30% of your retirement spending power is a result of growth during your working life (accumulation phase)
- 60% of your retirement spending power is an outcome of growth during retirement itself
|60% what you spend in retirement is created during retirement itself therefore you are funding the majority of your retirement once you have retired.|