Research has shown that the majority of the Australian population has inadequate Super.The Australian Investment Institute estimates that only 7% of retirees are currently financially secure and a large proportion will need to live on less than 40% of their pre retiree income.
Based on the Westpac / AFSA Retirement Standard report, a couple will need around $53,456 p.a to live a comfortable retirement whereas a single will need $39,081 p.a.
A rule of thumb method involves multiplying your anticipated living expenses in retirement by a factor between 13 and 20, depending on your age and a number of other factors, to calculate the “Required Capital” in retirement.
Retirement can look different when you seek advice – you will have options, you can live a more confident, secure and certain retirement. Contact us today for a free financial health check and we will show why you should seek advice from one of Australia’s most referrable Financial Planning Group.
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