Don't Bury Your Head in the Sand Over Retirement!
If you’re like hundreds of thousands of other Australians you may be feeling the increased debt levels that are caused by stagnant wages, increased costs of living, and the declining Aussie dollar. Many Australians bury their heads in the sand but the fact is some are wondering how they will be able to have any money at all in retirement, while others are concerned that they will have to sell their family home.
One of the biggest dangers in life is to believe that we must play the hand we are dealt and things cannot change for us. This disempowering state is the biggest trap that we can fall into. It prevents us from seeking the information required to achieve the life of our dreams.
Two Key Questions to Answer
What kind of retirement do you want & How much money will you need ?
Do you know how much super you will have when you retire and how long it will last ?
Retirement Is The Longest Holiday- How Are You Going To Pay For It?
" The majority of Australian retirees run out of super well before the end of their lives” - ASFA CEO Dr Martin Fahy.
Check out the 3 Retirement Lifestyle Categories below, devised by the Australian Super Industry Body-AFSA
What is considered a comfortable retirement lifestyle?
A comfortable retirement involves enough money to pay for house repairs, occasional holidays including overseas trips, a good car, regular leisure and lifestyle activities, and many other discretionary items that form daily living. For couples aged 65 to 85, a comfortable lifestyle is estimated to cost around $62,562 a year. Singles might expect to spend $44,224 a year.
This budgets below assume that the retirees own their own home outright and are relatively healthy.
Age Pension Retirement
The latest rates below are for a full Age Pension for Australian residents for the period 20 March 2021 to 19 September 2021
A retirement based on the Age Pension generally provides a frugal lifestyle on a tight budget, with most spending at a basic level limited to essential items only. An Age Pension will pay approximately $37,340 per year for couples combined, and $24,770 for singles.
As you can see, this is below even the modest retirement standard.
The figures above include the pension and energy supplements.
What is considered a modest retirement lifestyle?
A modest retirement necessitates cutbacks in many of these areas, with less discretionary spending but still with the ability to afford a car and enjoy most leisure activities. For couples aged 65 to 85, a modest lifestyle is estimated to cost around $40,739 a year. Singles might expect to spend $28,170 a year.
This budgets below assume that the retirees own their own home outright and are relatively healthy.
Most people will want much more than the $65,000 per year noted in the AFSA standard as "comfortable" but let’s say $65,000 sounds OK to you, you will still need a minimum $1.3 million dollars for retirement.
Can you save $65,000 per year for the next 20 working years to retire with the more than $1.3 million dollars required to last you 20 years in retirement?
On average, once clients consider their own needs and costs for retirement, most concede that they will need a nest egg of more than $2 million to fund their Freedom years.
This income level is impossible to save for if you’re working a typical day job, especially for families.
If you could generate enough wealth to enjoy the retirement you deserve for less than $30 week, is there any reason you wouldn’t get in touch with the experts to investigate this further right now to find out how?
Superannuation isn't the answer
Superannuation trustees are being investigated over possible failures in their obligations to members over dud retirement products, the prudential regulator has revealed.
APRA deputy chairwoman Helen Rowell said. “In particular, we are concerned that some funds identified as the poorest performers 12 months ago remain in that position today.”
This is why 8 out of 10 retirees won’t get to enjoy the retirement they deserve. Self- Funded Freedom’s mission is to fix this. We invite you to receive a complimentary income projection based on your current super fund’s performance.
We have helped thousands of Australians
The good news is, if you are reading this, things can get better. Much better.
We have improved the outlook for thousands of Australians, and we would love to help you to.
Self-Funded Freedom’s aim is to help you build wealth and create a regular passive income stream for your FREEDOM retirement years without compromising your current lifestyle.
Use Self-Funded Freedom's property strategy to future proof yourself so you won’t need to or rely on just Superannuation or the pension.
Why live an ordinary life when you can live an extraordinary one!
Plan Ahead: Get Our Complimentary Super Projection
We Invite you to receive a complimentary superannuation projection so you can see what kind of retirement you are headed towards. The reason we are doing this is that 85% of retirees didn’t do this & consequently are running out of money.
Our mission is to fix this by highlighting to your family the income required for retirement, the income you are on track to receive with your superannuation and then ways to drastically improve your outlook by legally accessing the tax you currently pay to the ATO
We have been highlighting this fact to Australians all over the country for years & alerting families to their different options and we are extending an invitation to assist you to gain some clarity as to where you are headed too & then offer solutions to improve your result.
No Cost & No Obligation