Are you 100% sure you’re financially set up as best as possible for retirement? The first step in planning your retirement is to look at your current plan for your income in retirement and see if you're as prepared as you think you are.
The Association of Super Funds of Australia (ASFA) publishes new ‘Retirement Standard’ figures every quarter to help retirees get an idea for the income they’ll need to match their lifestyle expectations.
How do you expect your lifestyle and spending habits to change in retirement? The way you spend your time and the standard of living you want to enjoy will both have a significant impact on how much income you’ll need.
Do you have a big bucket list of travel destinations and experiences you’re hoping to work your way through? Or are your plans more focused on staying close to home, spending time with family and friends? Perhaps full-time retirement isn’t something you’re ready for and you’ll keep working part-time instead.
Whatever retirement looks like for you, money is something that can either limit your plans or make them possible. To give you a better chance of understanding just what level of income you might expect to live on in retirement, let Advance Wealth put your Retirement plans under the microscope. You’ll get to know what the different estimates include and use them as a basis for your own calculations for the sort of retirement you have in mind.
