‘How much do you need to retire on?’ by Paul Clitheroe

Most Australians recognise the need to set aside funds for retirement. What’s less clear is just how much money we need to support a decent lifestyle in our senior years. It’s an issue many of us only address when we’re approaching retirement, and by then it can be challenging to build the level of investments needed for your preferred style of living. There’s no single answer to the question of how much you need to retire on. It’s a very personal issue, and one that hinges on your likely living expenses. A good starting point in determining how much money you need to be financially independant in retirement, is to work out an anticipated annual budget.

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