New statistics released in August 2017 by wealth management business MLC found 43 per cent of Australians aged between 50 and 70 have less than $100,000 tucked away.
This is well below the recommended balance of $545,000 for a single retiree to live a comfortable retirement and for couples they need $640,000 – $1,000,000.
As with any significant life change, the better prepared you are for retirement, the easier it will be. A good plan will give you peace of mind that you are in the best possible position to enjoy your precious retirement years.
Retirement is about more than just giving up work; it marks the beginning of an exciting array of new opportunities, such as more time to enjoy travel and pursue your interests. Of course your ability to make the most of your lifestyle will depend on how much you have saved.
Will I have enough to comfortably retire?
This is one of the most common questions people ask as they prepare for retirement. Unfortunately, there is no ‘one size fits all’ approach – every individual is different and will have specific needs and desires.
Future Assist offers comprehensive retirement planning support and advice to help you set realistic goals and build an effective retirement strategy.