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#78 What Is a Comfortable Retirement? Part 1
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What if retiring comfortably meant more than just having enough money to live on? On this episode of the Finance Bible podcast, Oscar and I engage in a lively debate about what constitutes a modest versus a comfortable retirement in Australia, sparking a discussion that challenges conventional wisdom. With insights from the Association of Superannuation Funds of Australia (ASFA), we weigh in on figures ranging from $70,000 to $300,000 per year for both singles and couples, and stress the importance of early planning and the right mindset to achieve a fulfilling retirement lifestyle.
The conversation takes a critical turn as we explore why retirees might actually need more money than during their working years, due to increased spending on activities like travel and hobbies. Alarmingly, a staggering 65% of retired Australians rely on a meager pension, highlighting the dire need for better financial preparedness. We delve into the challenges faced by those in physically demanding jobs approaching pension age and underline the imperative of financial planning, especially in the last decade of one's working life. Don't miss our final thoughts on proactive self-care and productivity, and remember to follow, subscribe, and share the podcast for more practical advice and insights!
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The advice shared on The Finance Bible is general in nature and does not consider your individual circumstances. The Finance Bible exists purely for educational / entertainment purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs.
Chapters
1. #78 What Is a Comfortable Retirement? Part 1 (00:00:00)
2. Retirement Comfort and Income Goals (00:00:09)
3. Retirement Savings and Pension Concerns (00:12:06)
4. Take Action, Share, and Subscribe (00:22:16)
112 episodes
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