Skip to main content
#
A Clear Direction
rss feedour twitterour facebook page linkdin
home
Financial Advisor Brisbane - AdviserScott Keefer - A Clear DirectionBuilding Investment PortfoliosPortfolio Management ServiceUpdated ContentContact Us - Brisbane Financial Planning
A Clear Direction Financial Planning logo

 Financial Happenings Blog 
Monday, September 01 2008

Each quarter, Westpac in conjunction with The Association of Superannuation Funds of Australia Limited (ASFA) publish an analysis of household budget requirements for retirees according to whether they are single of part of a couple  and in terms of the lifestyle they hope to keep - Modest or Comfortable.

 

The latest figures released on the14th of August and relating to the March quarter 2008 - FOOD, PETROL DRIVE UP RETIREMENT COSTS - provides interesting reading for those planning for, approaching or in retirement.  I find the information especially useful for those struggling to know how much disposable income they will actually need in retirement.  The data suggests that rising food and petrol prices are placing an added burden on retirees.

 

The report suggests that a couple living in retirement needed to spend $49,502 a year to maintain a comfortable lifestyle while a couple with a more modest lifestyle needed $26,851.

 

Using our 5% sustainable draw down rate, a couple should aim to have $990,000 of financial assets (in today's dollars) to maintain a comfortable lifestyle in retirement or $537,000 to maintain a modest lifestyle.

 

Check out Scott Francis' Eureka Report article - Tap your super, but how much? for a more detailed discussion of sustainable draw down rates in retirement.

 

Regards,

Scott Keefer

Posted by: Scott Keefer AT 10:54 am   |  Permalink   |  Email
 
Scott Francis' articles in the Eureka Report 
Request for Information 
If you have questions, or would like more information, please go to our Contact page and leave your name and contact information.

Plan Well, Invest Well, Live Well! Financial advice providing a clear direction

A Clear Direction Financial Planning and Portfolio Management ABN 85 147 572 870

Level 19
10 Eagle Street
Brisbane QLD Australia
Ph: (07) 3303 0269
Email: scottk@acleardirection.com.au

Authorised Representative (398444) and Credit Representative (403292) of FYG Planners Pty Ltd AFSL/ACL 224 543.

ASIC - Financial Advisers Register

All content of this website is copyright © A Clear Direction Financial Planning Pty Ltd, 2017

FYG Planners Pty Ltd & A Clear Direction Financial Planning Privacy Policy