Whether you are just starting your career, or well on the way to your retirement, it is never too early to think about what lies ahead, and how you picture your recreation years once you decide to leave the workforce. There is little doubt, that Australia’s aging population and longer life expectancies are certain to present many economic, social and healthcare related problems. The question is, will you be financially independent and living the life you had dreamed of?.
Retirement is no longer a phase in life where things slow down (or stop). It is just the opposite. Retirement is now about looking forward, planning ahead and enjoying a well-deserved break.
So what will it cost you to live a long and happy life? There’s no single answer because your retirement expenses will depend on your expectations and your individual lifestyle. They will be affected by your activities, your health, where you live, your relationships and much more.
Your desired lifestyle and of course your current age and stage of life, will have a great impact on whether you are on track to meet your goal, or whether you will fall short.
Find out how much super you could have, how long it will last and whether you will be able to meet you lifestyle objectives once you stop work using the calculator below.
What you need to know
This information is provided by Invest Blue Limited (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.