The figure equates to just over $1,100 a week for a healthy couple!
The latest figures from the Association of Superannuation Funds of Australia’s (ASFA) concluded that a healthy retired couple could live comfortably off $62,000 a year, or a lump sum of $640,000 when they retire.
For a single person that annual budget drops to $40,000 with a weekly budget of about $770.
To put this into perspective, the current annual age pension rate in Australia is approximately $24,770 for a single person and approximately $37,341 for a combined couple, annually.
Meaning you best have a nice nest egg prepared upon your retirement or the Pension is the best option you may have.
The report concluded many older people who pass away after going into retirement do so with the ‘bulk’ of their wealth intact, based on a fear they will run out of money.
But is $62,000 a realistic or unrealistic goal for our retirees?
