How much do I need to retire?

How much do I need to retire? - this is a question everyone preparing for retirement will or has eventually asked?

There is a lot of misconception about how much you actually need to have saved to enjoy a comfortable standard of living in retirement.

I have already written "What income is needed in retirement" that explains the level of income you need, to meet a specific level of retirement lifestyle. I will link that video at the end of this one, as well as in the description below.

So now, let's find out how much you actually need, so what is the lump sum required, for you to have a reasonable retirement. There is a big discrepancy between what the average balance of a super fund is in real world as opposed to what big super funds are advertising we should have. 
If you watch this table carefully, you can see a surprising increase of super balance for both me and women pass the age of 64.

You can improve your retirement benefit by organising your assets and utilising lots of very beneficial superannuation strategies, additional contributions such as downsizer contributions, catchup contributions, concessional contributions.

You really need to know which of those provide the best retirement benefit long-term for you. I have a whole collection of videos explaining those different contributions, so feel free to watch them. This is our government's plan to get people off Age Pension - they have smartly created a superannuation system, by which over your lifetime you have your compulsory retirement savings put aside for you.

When you are ready to retire each person will have sufficient funds to have a comfortable lifestyle in retirement.

Personally, I believe we will always have some Age Pension backup for people in financial difficulty, but the vast majority of retirees will not have to rely on Social Security system.

Videos mentioned today:
1. What income is needed in retirement:    • What income do I need in retirement #...  
2. Downsizer Contributions - Part 1:    • Downsizer Contributions to Super for ...  
3. Downsizer Contributions - Part 2:    • Downsizer Contribution To Super - Who...  
4. Personal Super Contributions:    • 4 reasons to make personal tax deduct...  
5. Catch-up contributions:    • Catch Up Carry-forward Concessional C...  
6. Commonwealth Seniors Concession Card:    • Centrelink Concession Cards for your ...  
7. Pensioner Concession Card:    • Pensioner Concession Card #BenefitsOf...  

To download the book 12 PRINCIPLES OF INVESTING:
https://ebook.aboutretirement.com.au/...

Contact details:
Katherine Isbrandt of About Retirement
Website: https://aboutretirement.com.au/
Email: [email protected]

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