The Association of Superannuation Fund of Australia Ltd (ASFA), last week released updated figures on what you'll need to fund your retirement.
For those wanting a comfortable retirement which will allow you to participate in recreational activities, travel occassionally, and generally enjoy a standard of living that involves new clothes, a good car, and required updates to domestic objects such as fridges and electronic equipment, you'll need $54,562 per year for a couple, and $39,852 per year for a single.
An annual income of $31,263 per couple and $21,587 for a single will cover the basics but not much more.
If you'd like to look at the report in detail you'll find it here:
Planning for Retirement is not so much about planning for not working, but rather organising your financial situation so that you can choose how you want to live.
Kerrianne Hebinger
Financial Planning Essentials
w: www.finplans.com.au
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