Starting at age 65yo. I am expecting/preparing to live up to 100yo (equals 35yrs of retirement). Each year budget $50K (x 35) = $1,750,000. Add inflation to round it off = $2,500,000 total net asset. This is not reliant on any returns/income. Just dependently reliant on the amount saved.
'I’m a law enforcement officer in NC. We receive a law enforcement supplement to our pension which makes our pension 100% of our top 4 year income. Also have $350k in my 401k which the state contributes. Also we have the state Heath care for life at the whole group rate which is $50 a month. With 6 years left, I currently make 83k a year. I’ve had people look “down” on me for my job and the fact that I do not have a college education. All these i make even bigger by trading with the help of a professional, i'm pretty sure i'm doing okay".
@@mariahhayes5089 To be honest, today the best plan for a retiree is the stock market, i rather double my profit, than leave it idol in a bubble of uncertainty.
@@mariahhayes5089 My consultant is 'PRISCILLA DIANE AIVAZIAN" I found her on a CNBC interview where she was featured and reached out to her afterward. She has since provided entry and exit points on the securities I focus on. You can look her up online, you will be directed to her page. I follow her trade pattern and haven’t regretted doing so. She can help you get started.
The tables show averages. Surely that is not accurate as to what the average worker has accumulated. The amounts will be skewed by very rich people who have a lot of super. A median amount may be a better metric than an average.
Hi Katherine, my husband and I are moving into retirement as of 1st February, 2022. We have an upcoming meeting with a consultant from Aware Super. We got a bum steer from a financial planner last year who wanted to put us into a 'wrap fund' with fees between the fund and financial planner fees at just over $14K per year. This is why we have decided to go with an industry Superfund such as Aware. Their returns over 5 year period are impressive and low fees, in comparison to other funds. We would be willing to consider a consult with you but are hesitant to have a plan made for us after just paying late last year for a plan that we were too hesitant to go for. Do you have a 'fee for service' situation? Thanks for considering. Christine
Hello Christine, thank you so much for watching my videos and your very honest and open message here. I really cannot comment on the level of fees the other financial planner disclosed to you, as I don't know what is the balance you wish to invest (this is how most super funds charge - percentage of the balance to be invested). For example if you have $1.5mil to invest, then just an average 1% fee of super fund admin fee and investment fees will take you up to $15,000, but if your investment balance is considerably less, then it is a worry. But then again, I do not know your situation and complexity of the plan and ongoing service level required, hence it is hard to judge. Feel free to contact me katherine@aboutretirement.com.au if you would like to have a more private conversation and assessment. Financial planning is like any other business, some charge a lot, other planners are much more with reality as to what most people actually can afford. I hope this helps 😀Katherine
At 12:52 you say the second couple are eligible for age pension of $24,274 per annum combined. Isn't that the amount for a single person, while a couple receives $37,923?
and then, along with 25k (5% draw down of 500k in super) they will be on about 63k, which is more than the couple with 1mill combined super, and slightly greater than the $62,269 needed for a comfortable retirement.
Yes Tom, you are correct in levels of full Age Pension payments, but the second couple is not eligible for the full Age Pension under Assets Test, hence reduction of payments, so the second option is optimizing the Age Pension payments.
unequal pay for women, where exactly? which companies do this? For the same work women are paid exactly the same, please stop looking at averages and median's but if people insist on looking at this also consider why, ask the questions and find the answers. Your video was good until this point.
Just because people have been in lower paying jobs does not mean they are not working hard. But, if I were in that position of $1,000,000 super and I wanted to get it down to $500,000 to get the full state pension, I would retire 5 years earlier than state pension age, live on $100,000 super per annum so that my balance was $500,000 by the time I reach pension age? I don't view that as getting penalised.
This platform is out of date . Today if you have to invest you are victimise and you will lose (singles) $12,285 out of full pension and will only receive $16,738.80. But if you are aborigine you will receive everything "FREE" because the average workers income tax will go to the aborigines. If you can manage an investment you wil end up with only $643.80 a fortnightly. If you are lucky to have a Family Trust Fund then you can have the full pension.
How much do you believe you should have saved in super to be ready for your retirement?
Starting at age 65yo.
I am expecting/preparing to live up to 100yo (equals 35yrs of retirement).
Each year budget $50K (x 35) = $1,750,000.
Add inflation to round it off = $2,500,000 total net asset.
This is not reliant on any returns/income. Just dependently reliant on the amount saved.
'I’m a law enforcement officer in NC. We receive a law enforcement supplement to our pension which makes our pension 100% of our top 4 year income. Also have $350k in my 401k which the state contributes. Also we have the state Heath care for life at the whole group rate which is $50 a month. With 6 years left, I currently make 83k a year. I’ve had people look “down” on me for my job and the fact that I do not have a college education. All these i make even bigger by trading with the help of a professional, i'm pretty sure i'm doing okay".
I’m retired. Too many think retirement is a destination, It’s actually a new journey.
I'm happy for you, but why trade?
@@mariahhayes5089 To be honest, today the best plan for a retiree is the stock market, i rather double my profit, than leave it idol in a bubble of uncertainty.
@@mayacho4910 Smart. If i wanted to do the same, how do i get started.
@@mariahhayes5089 My consultant is 'PRISCILLA DIANE AIVAZIAN" I found her on a CNBC interview where she was featured and reached out to her afterward. She has since provided entry and exit points on the securities I focus on. You can look her up online, you will be directed to her page. I follow her trade pattern and haven’t regretted doing so. She can help you get started.
Quality work…
Yes, a couple can have a house of any value and $401,000 of super before it will have any effect on the married rate of pension. $38,709 combined.
The tables show averages. Surely that is not accurate as to what the average worker has accumulated. The amounts will be skewed by very rich people who have a lot of super. A median amount may be a better metric than an average.
How much effect from centrelink special payments. If my working benmar only working only 15 hrs aweek
Great video Katherine, explained well
Thank you Bernie 😀
Have a $million dollars in super/bank and don't own your home ! Kathrine How many couple's have you consulted with this predicament? Ty
This is what I want to talk to you about, thumbs up 314.
Brilliant thank you....Jeff
Thank you Jeff😊
Hi Katherine, my husband and I are moving into retirement as of 1st February, 2022. We have an upcoming meeting with a consultant from Aware Super. We got a bum steer from a financial planner last year who wanted to put us into a 'wrap fund' with fees between the fund and financial planner fees at just over $14K per year. This is why we have decided to go with an industry Superfund such as Aware. Their returns over 5 year period are impressive and low fees, in comparison to other funds. We would be willing to consider a consult with you but are hesitant to have a plan made for us after just paying late last year for a plan that we were too hesitant to go for. Do you have a 'fee for service' situation? Thanks for considering. Christine
Hello Christine, thank you so much for watching my videos and your very honest and open message here. I really cannot comment on the level of fees the other financial planner disclosed to you, as I don't know what is the balance you wish to invest (this is how most super funds charge - percentage of the balance to be invested). For example if you have $1.5mil to invest, then just an average 1% fee of super fund admin fee and investment fees will take you up to $15,000, but if your investment balance is considerably less, then it is a worry. But then again, I do not know your situation and complexity of the plan and ongoing service level required, hence it is hard to judge. Feel free to contact me katherine@aboutretirement.com.au if you would like to have a more private conversation and assessment. Financial planning is like any other business, some charge a lot, other planners are much more with reality as to what most people actually can afford. I hope this helps 😀Katherine
Were actually about to leave Aware super as their fees are on the higher side compared to the industry fund we are moving to.
At 12:52 you say the second couple are eligible for age pension of $24,274 per annum combined. Isn't that the amount for a single person, while a couple receives $37,923?
and then, along with 25k (5% draw down of 500k in super) they will be on about 63k, which is more than the couple with 1mill combined super, and slightly greater than the $62,269 needed for a comfortable retirement.
Yes Tom, you are correct in levels of full Age Pension payments, but the second couple is not eligible for the full Age Pension under Assets Test, hence reduction of payments, so the second option is optimizing the Age Pension payments.
unequal pay for women, where exactly? which companies do this? For the same work women are paid exactly the same, please stop looking at averages and median's but if people insist on looking at this also consider why, ask the questions and find the answers. Your video was good until this point.
So the people who worked hard and have more super are punished, great system Australia.
Just because people have been in lower paying jobs does not mean they are not working hard. But, if I were in that position of $1,000,000 super and I wanted to get it down to $500,000 to get the full state pension, I would retire 5 years earlier than state pension age, live on $100,000 super per annum so that my balance was $500,000 by the time I reach pension age? I don't view that as getting penalised.
Your numbers don't make sense typical bean counter spin and are you on a pension.
Millions as the government likes to get there grubby little hands on retiree's money. The government crucifies self funded retiree's.
This platform is out of date . Today if you have to invest you are victimise and you will lose (singles) $12,285 out of full pension and will only receive $16,738.80. But if you are aborigine you will receive everything "FREE" because the average workers income tax will go to the aborigines.
If you can manage an investment you wil end up with only $643.80 a fortnightly.
If you are lucky to have a Family Trust Fund then you can have the full pension.