#EveryoneNeedsaPlan: Increased Cost for Comfortable Retirement

A “comfortable retirement” has a different meaning depending on your lifestyle but as a guide the Association of Superannuation Funds of Australia (“ASFA”) provides some benchmarks which may be helpful.

• Each Financial Year Quarter ASFA produce a report including expenses likely to be incurred in retirement
• The March 2024 Quarter costs for a “comfortable retirement” increased 0.70% to $72,663 for couples and $51,630 for singles
• The ASFA website has some great resources dealing with retirement expenditure budgets and capital requirements
• It’s always wise to seek financial advice for a comprehensive assessment of your retirement needs as every is different
• If you need help with your retirement plans, don’t hesitate to contact us and arrange a free appointment to discuss your needs