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Comfortable Retirement Lifestyle Insights

Introduction

As we all have different views on what encompasses a comfortable retirement lifestyle, here we shall review various levels of post-retirement living.

There are a number of considerations when planning retirement and hopefully, the links to these topics will help you through the retirement planning maze:

Comfortable Retirement Lifestyle

Money: How much will you need for a comfortable retirement lifestyle?

Australian Money

That depends on the lifestyle that you are already accustomed to plus also, it is dependent  upon your financial capacity.

So, let’s begin with a review of your retirement goals.

What are they? Here we suggest that you write down the things you would like to do following retirement, e.g.,travel to (??), spend more time with your grandkids, carry out some home renovations or relocate for a sea/tree change, or…..??

Are your retirement goals in keeping with your financial capacity?

As we have suggested below, compare your wants and needs to those detailed in the chart below. This will help you establish a firm idea of what you can/can’t do in retirement.

Your Retirement Goals

If you are a High-Net-Worth-Individual (HNWI) or Ultra-High-Net-Worth-Individual (UHNWI), then it’s likely that the following charts and diagrams won’t apply to you. Reason being is that you should have the financial means to follow your retirement dreams.

 

Retirement Expenses Comparison

This table, as published also by ASFA (The Association of Superannuation Funds of Australia), shows what it believes to be a ‘typical’ weekly estimate of expenses. Or as they put it – “Retirement Standards”.

You are likely to find it a useful tool to compare your own existing and/or planned lifestyle expenses to those detailed in this chart.

Once you have done so, we recommend that you sit with your retirement planning adviser as soon as possible to start the process of ensuring your ability to achieve that “Comfortable Retirement Lifestyle”.

More information on the subject of retirement standards can be found here.

How A Wealth IQ Adviser Can Help You With Your Retirement Planning

Wealth IQ advisers are highly qualified professionals who specialise in:

Tony Skinner - Founder and Senior Adviser

The Wealth-IQ Group, led by Tony Skinner, is a professional, holistic financial services company, based in Adelaide South Australia, with well over 35 years of experience. Therefore, we understand that our relationship with each client will be built on trust, integrity and professionalism.

To learn more about the services we offer, please take a look at our website.

The Wealth-IQ Group is committed to providing you with the best possible service, and we are proud of our reputation for excellence. We will always act in your best interests and will endeavour to exceed your expectations. Our team of dedicated professionals has extensive experience in financial planning and wealth management. Moreover, we are committed to providing a high level of personal service and expertise, while remaining client focused. Our team of advisers provides a range of financial advice and solutions to help you achieve your financial goals.

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