How much income do I need to retire?
What you need to retire is entirely dependent on you, however the Association of Super Funds do publish a figure each year and the latest figures say for an Australian couple to retire comfortably they’d need $59,619.
When we are helping our clients determine what is right for them, we start by breaking out what they need and what they want. You always want to have enough to meet your basic needs, like bills and groceries and by isolating your need we can prioritise affording the things that you want.
There are other considerations involved with this answer including whether you budget for the same level of income until your life expectancy or allow for a greater amount early, when you are likely to be more active.
Speak to one of our degree qualified advisers about how this relates to you.
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The content of this presentation is intended to be general information only and has been prepared without taking into account any person’s objectives, financial situation or needs. Each person should consider its appropriateness having regard to these matters or obtain relevant professional financial advice before making any financial decisions. Examples are illustrative only. Each person should obtain any relevant professional financial, taxation and social security advice before making any financial decisions.