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Superannuation
Can you afford a comfortable retirement?
Some Australians enjoy a comfortable retirement. However, most retirees can only rely on the basic retirement benefits provided by the Age Pension.
The Association of Superannuation Funds of Australia (ASFA) regularly estimates the annual income required to provide for either a modest or a comfortable lifestyle in retirement on a national basis.
A modest lifestyle is slightly better than the Age Pension, but you would still only able to afford fairly basic activities while a comfortable lifestyle would enable a good standard of living, for example a reasonable car, private health insurance, leisure and travel.
In September 2008 ASFA put the figures for a modest lifestyle at just over $19,600 per annum for a retired single and over $27,400 for a retired couple. Retired singles were looking at an annual income of over $37,800 for a comforable lifestyle and, retired couples over $50,500.
What retirement lifestyle will you be able to afford based on your present financial circumstances?
What retirement lifestyle could you afford with prudent management of your financial resources?
If you know or don't think your current retirement plan will help you achieve the retirement lifestyle that you'd like, APS Financial Planning can assist you in improving your situation by accelerating your savings.
If you are confident that your retirement plans are on track, APS Financial Planning can assist you in making the most of your super.
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APS Financial Planning Pty Ltd is a Corporate Authorised Representative No. 305923
of Futuro Financial Services Pty Ltd ABN 30 085 870 015 AFSL No. 238478 |  |
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