What if retiring comfortably meant more than just having enough money to live on? On this episode of the Finance Bible podcast, Oscar and I engage in a lively debate about what constitutes a modest versus a comfortable retirement in Australia, sparking a discussion that challenges conventional wisdom. With insights from the Association of Superannuation Funds of Australia (ASFA), we weigh in on figures ranging from $70,000 to $300,000 per year for both singles and couples, and stress the importance of early planning and the right mindset to achieve a fulfilling retirement lifestyle.
The conversation takes a critical turn as we explore why retirees might actually need more money than during their working years, due to increased spending on activities like travel and hobbies. Alarmingly, a staggering 65% of retired Australians rely on a meager pension, highlighting the dire need for better financial preparedness. We delve into the challenges faced by those in physically demanding jobs approaching pension age and underline the imperative of financial planning, especially in the last decade of one's working life. Don't miss our final thoughts on proactive self-care and productivity, and remember to follow, subscribe, and share the podcast for more practical advice and insights!
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Disclaimer:
The information provided in this podcast is general in nature and does not constitute personal financial advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Asset Road Pty Ltd recommends you seek independent financial, legal, taxation or other advice as required. All investments carry risk. Past performance is not indicative of future results.
