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Retirement

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Wealth Protection

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Invest in your future

Retirement

Retire from work, don’t retire from Life…

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Will there be enough for my retirement?

Generally, today people are retiring much earlier in life.  The average retirement age back in the 1950s was 65 to 67. By the close of the 1970s, the average retirement age dropped to around 63 to 65. However today, many folk are retiring as early as 55 to 60 years of age.

The Association of Superannuation Funds of Australia (ASFA) collated a guide which indicates approximately how much you will require for a decent standard of living and they estimate that the average single retiree will need at least $39,000 per annum and the average retired couple will need approximately $52,000 per annum.

How many years should you plan for?

The earlier you plan to retire; the more accumulated funds you will require. How many years should you plan for?  The answer depends on your age at retirement and life expectancy. The table below demonstrates examples of expected years in retirement. Our culture has changed greatly in recent times and many are combining casual, part time and/or voluntary work after they leave their mainstream full time positions.

 

Age of

Years in Retirement  
Retirement

Male

Female

55

27 31

60

23

26

65

19

22

70 15

17

Whatever you decide, Goal Financial Services can help ensure that all your financial needs are truly met by guiding you through a range of options/strategies that will maximise your funds for your future ahead.