How to retire on $650,000 as a couple

Unlock the secrets to retiring comfortably as a couple with $650,000 in superannuation and savings. From determining spending limits to optimising tax structures, we cover it all.
Learn how to maximise your Centrelink pension benefits while safeguarding assets for the surviving partner, including leveraging exemptions and exploring the Home Equity Access Scheme. Dive into estate planning considerations, including wills and superannuation strategies, and gain practical tips for navigating income and assets tests to maximise pension entitlements.
Don't miss out on expert insights to help you retire confidently.
MyValues website: www.myvalues.org.au/
Advice Disclaimer || Any advice given by the presenter/s has been prepared without considering your individual objectives, financial situation or needs. So, before you act on the advice you should think about whether the advice suits your objectives, financial situation or needs. If the advice relates to acquiring a financial product you should obtain a copy of the Product Disclosure Statement for that product and consider it before making a decision. This presentation has been prepared by Consortium Private Wealth Pty Ltd (ABN 74 616 250 965) (AFSL 495401). If you require advice which takes into account your objectives, financial situation and needs you should speak to a financial adviser.
Robert Goudie (ASIC Reg 235974), Ashley Rowan (ASIC Reg 433899), Olivia Glare (ASIC Reg 1262290), Rachael Todman (ASIC Reg 1270413) & Amy Lehmann (ASIC Reg 1292710) are Authorised Representatives of Consortium Private Wealth Pty Ltd ABN 74 616 250 965 AFS Licence 495401.

[@glenn9575]

Would a segment on debt recycling be possible (pros, cons, products, asset and debt ownership structures, etc)? Really enjoy your videos, thanks guys.

[@ConsortiumPW]

Great suggestion Glenn! Thanks Rob

[@west1au]

U are doing amazing work👏🏽

[@tonylander3512]

Thank you for your reply.

[@chollypaderanga307]

Thank for this great video… there’s so much information I learned

[@ConsortiumPW]

Glad it was helpful!

[@carolyn8713]

Would be great to do another one of these for singles :)

[@ConsortiumPW]

Recording this one today. Thanks for the suggestion, Rob

[@josephj6521]

Good to see the options. I wanted to know how $650k from the age of 60 a couple can retire? How much do they have yearly to spend until 93 years of age? Sorry, you didn’t get into that.

[@ConsortiumPW]

Thanks for your question. Its a difficult one to calculate, as the chances of both getting to age 93 and receiving the Age Pension as a couple is low. The difference of the full Age Pension as a couple is $44,000 compared to $29,000, which is massive. So what I do is project to age 85, assumig someone will pass away and see if there is there enough financial assets to supplement the $29,000 single Age Pension, for those years when not too much is spend. Also retiring at age 60 means you are self funded until Age Pension age at 67.
Now after saying all that, to answer your question. An income of $58,000 indexed to CPI less 0.5% pa (We spend less as we age) should see enough funds for the remaining single penioner at age 85. Sorry that was a lot, but hope it helped. Regards Rob

[@user-nh5xy8rt7q]

At 66 or 67 they can apply for full pensioner very simple

[@LHNA130]

Who’s the “owners of this land”

[@360buildingandpestinspecti9]

I agree

[@ConsortiumPW]

There are multiple, they are Jaadwa, Jadawadjali, Jupagulk, Wergaia and Wotjobaluk people. Amy

[@user-nh5xy8rt7q]

A couple who retire on $ 650k can still get full pensioner ,
Some they still got a mortgage to pay when retire or want renovate they existing home so they will spent some of that $650
Live comfortably on full pension and have the rest of the $650 in the bank 👍👍

[@Rick-kj9dd]

Learn how to write a sentence that makes sense!

[@user-nh5xy8rt7q]

@@Rick-kj9dd A couple who retire on $ 650k can still get full pensioner ,
Some they still got a mortgage to pay when retire or want renovate they existing home so they will spent some of that $650
Live comfortably on full pension and have the rest of the $650 in the bank 👍👍is clear now

[@tonylander3512]

Im surprised how much i pay my super fund in fee's on 600k

[@ConsortiumPW]

Hi Tony, fees can have a significant impact on your net returns and your balance over a long period of time. Important to understand what your paying, there are three types of fees. Product admin fees, ICR or investment manager fees and possibly a adviser fee if you use an adviser. If your in an old product, it may be costly when compared to more modern day options.

[@dannyfire8694]

retire age 67 year, $450 per week you call very generous??

[@ConsortiumPW]

Hi Danny, per member of a couple this would be considered a comfortable income for the first half of retirement, as per the ASFA retirement standard. Thanks, Amy

[@dannyfire8694]

@@ConsortiumPW We worked all our entire life for this country, when we are getting old, unable to work any longer we need to be look after well by this country, with cost living are skyrocket what today's $450 per week can buy you? TBH, it can't even buy you a plumber visit! It's so sad when people getting old, actually they are the most vulnerable people of society. NZ and UK none of them has mean test for retirees why does Australia to follow their cousins to do the same for its own retirees give them a decent retirement life for their last life journey. I personally agree what UK and NZ does to their retirees that is call Generous!

[@paulhanahoe-sp4hn]

Also switched off soon as the WOKE bullshit started unreal

[@ConsortiumPW]

Thanks for the feedback Paul. Amy

[@TheDarin01]

Great Info. Can't you cut out the welcome to country crap. Aren't we all Australians. The constant talking about race creates move division and constant negativity.

[@nickslotus9490]

Yep, we are all over it

[@ConsortiumPW]

Thanks for the feedback Darin. Amy

[@user-mw4go7ez9t]

You lost me and all of your credibility with the woke welcome to country crap. No subscription from me today. Next time start with something less divisive.

[@ConsortiumPW]

Thanks for the feedback. Amy

[@Rick-kj9dd]

I didn't feel that presentation was professional at all!

[@ConsortiumPW]

Hi Rick, thanks for the feedback, we tend to allow the recorded podcasts (such as this video) to be much more casual in presentation. If you are after more professional style vidoes, you may enjoy the short videos on our channel. Kindly, Amy.

[@SteveTeunis]

I was very interested in what you are about to say but switched off as soon as you wanted to preach the woke religion.

[@leannegon1483]

I fast forward through all of these whenever I hear them.

[@crjetpilot]

Buh bye then! 🏳️‍🌈

[@mjones9088]

Agreed, not interested in your wokeness and guilt…

[@ConsortiumPW]

Thanks for the feedback Steve. Amy

[@mikedoble729]

Did same.

[@user-nh5xy8rt7q]

Advise to couple who retire at 65 spent more then you can
Pay you funeral up front buy you cemetery plot and monument 🏛