3 factors affecting Retirement income

3 factors affecting Retirement income High life expectancy and low interest rates may make it harder for some retirees to live long and prosper.  Here we look at three elements from an AMP Capital Investors reporti that affect a post-work reasonable income – interest rates, inflation, and longevity. 1. Interest rates – high valuations, low returns Historically low interest rates have driven valuations of defensive assets such as cash and fixed interest to unprecedented highs. Generally, …

Rebooting for retirement

Rebooting for retirement As retirement comes into view, it’s time to imagine a new you for the post-work age. You remember your first day at school, your first job, your first home. And now your final pay check is in sight. That’s quite an achievement. As with other big life events, retirement triggers choices that shape your future. It’s time to take stock and reboot your life. It makes sense to make sure you’re ready …

How Much Superannuation is enough?

How Much Superannuation is enough? When you plan for retirement you will probably develop a financial plan intended to increase the amount you have for retirement. If you are on an average wage of about $85,000 p.a. before tax, you’ll need to save about 15 to 20 times that amount for retirement – about $1.3 to $1.7 million at today’s prices. You’re probably nowhere near that. There are other ways of estimating what you may …

Can I go back to work if I’ve accessed my Super?

Can I go back to work if I’ve accessed my Super? When you access your super at retirement your super fund may ask you to sign a declaration stating that you intend to never be employed again. But there may be compelling reasons why someone would subsequently return to work. According to the Australian Bureau of Statistics (ABS) the most common reasons retirees return to full or part-time employment are financial necessity and boredom.i Regardless of …

How to retire early

How to retire early Whether you choose or need early retirement, having a plan can give your money the best chance of lasting the distance. Whether lifestyle preferences or circumstances beyond your control are behind your decision to retire early, you’ll need to make a plan to help your retirement savings last, while still enjoying a few of your favourite comforts in life. Here are some retirement planning tips to consider when thinking about retiring …

9 money mistakes to avoid in retirement

9 money mistakes to avoid in retirement How to keep your finances on track once you leave the workforce When you’ve worked hard all your life to build up your nest egg, the last thing you want to do is fritter it away too quickly. In this article, we look at the common money mistakes people in retirement make, and how you can do your best to avoid them. 1. Not taking control of your …

How to play catch up with your super

How to play catch up with your super Now you can put more into super at the concessional rate of tax, starting from the 2019-20 financial year Putting more money into the tax-friendly framework of superannuation to help you enjoy a fulfilling retirement… it’s one of those things that seems like a no brainer, especially with the benefit of hindsight. In a recent report Australians in retirement said that making extra super contributions was the …

Most older Aussies say they’d prefer home care over a nursing home

Most older Aussies say they’d prefer home care over a nursing home While nearly nine in 10 say they have a preference, less than five in 10 have discussed their wishes with their family. What about you? According to a recent study by McCrindle, nearly 90% of Australians aged 50 and over said they’d prefer to live out their days in their own home, even though most admitted to not having given much thought to …

Planning for the unplanned in retirement

Planning for the unplanned in retirement It’s important to prepare for unexpected illness that could throw your retirement plans off course. When you close your eyes and think about retirement, what comes into your mind? Lounging on a pristine beach in the Whitsundays? Enjoying a croissant in a café on the Champs Elysees? Kitesurfing on the bay? If you’re approaching the finish line, chances are that you’re getting proactive and eagerly preparing for life after …