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Retirement Strategy: Will We Outlive Our Savings?

The majority of retired Australians rely on the age pension.

That’s only $485.60 per fortnight each for couples and $644.20 for singles.

A high percentage of people approaching retirement have super balances roughly equivalent to their mortgage balance.

What does that leave for living on for the next 20 years or perhaps even longer?

We are living longer! Perhaps it is time for a retirement planning and revise your retirement plans. Effective planning for retirement is essential if you want to live a lifestyle similar to your pre-retirement.

Based on 2000-02 mortality rates, a 65 year old man could expect to live for another 17.7 years. This is almost 45% longer than just 30 years ago. A 65 year old woman could expect to live for another 21.1 years, an increase of over 30% since the early 1970’s.

Do you find yourself thinking...

Remember, you don’t have to stop investing when you retire. An investment property that you buy now could still be increasing in value and paying you rent when you are 90!

Why do we put off planning for our future?

Time and capital growth doesn’t wait for anyone. We can never predict the right time to invest. The only thing we do know is that most people who invested in property 10 to 15 years ago (and have kept that property) are all very happy they did. So why would the next 10 to 15 years be any different?

While you are still working and have equity in your home, and perhaps some income to divert to loan repayments, then now is the time to do this. Once you retire you won’t be able to borrow money and may miss out.

Read the full article Retirement Strategy: Will We Outlive Our Savings, from the download on the image below.

It contains some useful ideas your financial advisor can assist your with to ensure your finances and financial strategies are in the the best shape.

Retirement Strategy

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An extensive library of Checklists, Forms and Guides can be found in our archive library.

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