Retirement in Canberra

Many pre-retirees worry that they do not have enough income to maintain their pre-retirement lifestyle. The reality is most couples are only living on $40,000 to $50,000 net income per year before they retire. During their life time of work, around ¼ of their income goes in taxes, children’s costs and loan repayments. Most clients once they retire will not have debts, children at home or pay much tax and so their living costs are very low.

Also retirees, aged between 65 and 67, can obtain an income from the Age Pension plus fringe benefits such as rates, utilities, medical and public transport discounts.

Retirees generally will have enough income to live on but may not have much in the way of lump sums to cover larger expenses such as car replacement, house repairs, travel and medical costs. A lump sum, accumulation target before retirement should allow for funds of at least $200,000 for a couple and $100,000 for a single person.

Latest Financial Planning News

  • Our website is really our digital office.

    Coming to our digital office means you can visit us at any time without moving, you family and friends can to.  You can drop off and pick up files, you can catch up with important news, you can ask us questions on a wide range of topics, you can search providers such as Centrelink, the ATO and ASIC and often more easily than going to their sites, you can access a range of calculators, you can get to know our staff, and more.  Drop in anytime!

  • Bitcoin – is it really for you?

    If I could sum up the contents of my junk emails over the last 12 months in a single word it would be: Bitcoin.

  • Spread your money, reduce risk

    Six out of ten Australians own investments outside of the family home and super. That’s good news. The only problem is that many people are still putting all their eggs in one, or just a few, baskets. 

  • Love and money? It’s not about control

    While talking about money is not the most romantic way to spend an evening, it's worth putting some time aside to explore shared goals and the way you manage your money as a twosome.