While preparing for retirement, the wisest thing that should be on every wise individual's list is to invest in different stream of income; I am earning more this year because I have been investing while working at the same time. I invested through TERESA JENSEN WHITE, same woman that an anchor kept mentioning on CNBC, and made multiple of my start up capital within three months . She lives here in the USA and she is licensed
Heard many good recommendations about TERESA JENSEN WHITE, and her profitable strategies by some brokers in a seminar and other platforms, I think she's the real deal for people to talk good about her, I will give her a trial and see how it goes then.,..
Biggest couple expense I can see is Food/Drink/grocery shopping $ 13000 per year followed by health insurance $5000pa Car costs $4000pa combined rates $3000pa. I am 58 double income no kids no debts and spend around $45000 per year including overseas and domestic holidays. I don't believe you need over $million to retire? you just need to supplement you Gov OAP of $16500pa per couple which in my case is $28500 pa, give into the mix the older you get the less you spend then $500,000 is way more than you need. Lets be realistic most people are dead before the age of 85 and once at that age you don't need much at all to live longer. Truth is old people need less young people need more and younger people are being encouraged by Gov to carry debt and give up what they need now (superannuation) for when they least need it. :)
To a degree you are correct, but the issue for older people appears when there is a need to enter Aged Care that is quite costly, so it makes sense to keep some savings for your old age. Ant statistically the number of people living pass the age of 85 is just growing, this is another issue that needs to be taken into account when preparing for retirement or on retirement already and managing money long-term.
The best I have heard this put was that you really have until 72 years ON AVERAGE of travel abroad. You might still travel later in life, I know someone in their 90´s traveling, but a financial planner that has seen 1000´s and 1000´s of people retire said count on more money before 72 for travel and more money in later years for more care. So, that gives three stages of retirement, early (expensive), middle (cheaper) and later (potentially expensive again). So, travel as long as you can but know that after 72 you or your partner might need to stay domestic because of travel health insurance and health problems.
As there has been no reply to your question for such a long time, I thought I would give it a go. At the end of the day, if 1mil is enough or not, depends on your income needs, but if money is structure correctly, not only you could retire at 65, but when reached the Age Pension age this could supplement your personal income as well, and then you have access to all government extra benefits, that are very much worth considering.
We need a big saving for retirement indeed! Interestingly there are some retirement strategies that allow retirement with under $0,5M. Will let you know when making a video about that. Thanks!
What would be your biggest spending in retirement?
While preparing for retirement, the wisest thing that should be on every wise individual's list is to invest in different stream of income; I am earning more this year because I have been investing while working at the same time. I invested through TERESA JENSEN WHITE, same woman that an anchor kept mentioning on CNBC, and made multiple of my start up capital within three months . She lives here in the USA and she is licensed
I really needed the help of someone .. Thanks so much . . I was able to find her page and I already leave her a message...
Heard many good recommendations about TERESA JENSEN WHITE, and her profitable strategies by some brokers in a seminar and other platforms, I think she's the real deal for people to talk good about her, I will give her a trial and see how it goes then.,..
Biggest couple expense I can see is Food/Drink/grocery shopping $ 13000 per year followed by health insurance $5000pa Car costs $4000pa combined rates $3000pa.
I am 58 double income no kids no debts and spend around $45000 per year including overseas and domestic holidays.
I don't believe you need over $million to retire? you just need to supplement you Gov OAP of $16500pa per couple which in my case is $28500 pa, give into the mix the older you get the less you spend then $500,000 is way more than you need. Lets be realistic most people are dead before the age of 85 and once at that age you don't need much at all to live longer.
Truth is old people need less young people need more and younger people are being encouraged by Gov to carry debt and give up what they need now (superannuation) for when they least need it. :)
Thanks. So, I’d be comfortable bringing in ~ $70K USD/year, apparently.
To a degree you are correct, but the issue for older people appears when there is a need to enter Aged Care that is quite costly, so it makes sense to keep some savings for your old age. Ant statistically the number of people living pass the age of 85 is just growing, this is another issue that needs to be taken into account when preparing for retirement or on retirement already and managing money long-term.
The best I have heard this put was that you really have until 72 years ON AVERAGE of travel abroad. You might still travel later in life, I know someone in their 90´s traveling, but a financial planner that has seen 1000´s and 1000´s of people retire said count on more money before 72 for travel and more money in later years for more care. So, that gives three stages of retirement, early (expensive), middle (cheaper) and later (potentially expensive again). So, travel as long as you can but know that after 72 you or your partner might need to stay domestic because of travel health insurance and health problems.
@@WalkaroundTravel this is 100% correct, I can confirm exactly the same observation from my practice regarding age and lifestyle activities.
Well said and agree 500k to 600k and a part age pension is enough if you retire at 65 or a little over and most men don't make it to 80
Retirement from what?
So is $1million in super and savings enough to retire at 65?
As there has been no reply to your question for such a long time, I thought I would give it a go. At the end of the day, if 1mil is enough or not, depends on your income needs, but if money is structure correctly, not only you could retire at 65, but when reached the Age Pension age this could supplement your personal income as well, and then you have access to all government extra benefits, that are very much worth considering.
You need at least one million dollars to retire in Australia!
We need a big saving for retirement indeed! Interestingly there are some retirement strategies that allow retirement with under $0,5M. Will let you know when making a video about that. Thanks!