80 percent of Australians often retire on less than $15,000 per year and still carry a debt throughout retirement. Are you afraid of being in the same situation when you retire?
It is possible to retire comfortable and continue living the lifestyle that you desire. However, unfortunately not many Australians have serious thought about retirement and what they would actually need to retire comfortably.
If you haven’t thought about retirement, you should consider the following:
- Will the age pension be enough, if you had to rely on it?
- Will you be able to live the lifestyle you want —travel, recreation, entertainment — and how much money do you need to fund it?
- What steps have you considered taking now to ensure you will have enough for retirement?
- Will you be able to retire whenever you want — or like most, do you have to keep working?
- How long will your retirement funds last?
Knowing the answers to these questions can help you implement the correct retirement strategies that will help you get ready for retirement.With increasing life expectancy and superannuation returns not always meeting expectations in recent years, having the right retirement strategy in place is crucial for getting the lifestyle you want in retirement.