What you need to know to make the most of your retirement savings

What you need to know to make the most of your retirement savings.

What you need to know to make the most of your retirement savings

The new year offers new opportunities and, undoubtedly, fresh challenges. Today’s December issue of the Retirement Affordability Index™, is a ‘survival guide’ that aims to help you – in the words of a very well-known movement – be prepared.

Sponsored by Challenger, it looks at the anticipated pressure points in 2019 for each of the retirement tribes – the Affluent, Constrained and Cash-Strapped Couples and Singles. Forewarned is forearmed.

It also identifies the areas of opportunity where you can save – or make money. Whatever happens in this federal election year, we’ve got you covered. In this essential guide for all older Australians:

• financial adviser Emmett Wilkinson explains the myths, risks and straight-out untruths about retirement
• the Australia Institute senior economist Matt Grudnoff reveals where your money went in 2018 and the areas of expenditure under pressure in 2019
• we share the outlook for each of the retirement tribes in 2019, as analysed by AMP chief economist Shane Oliver, Per Capita’s Myfan Jordan and Benevolent Society campaigner Joel Pringle
• we explain how you can stretch the spending power of your household
• we outline 10 creative ways to make extra cash without leaving home
• we update all weekly, monthly and annual costs in key categories of expenditure for the six retirement tribes in the June quarter, and supply a budget planner to help you keep track of your household costs
• and, finally, we keep you up-to-date on the latest government changes that may have a big effect on your retirement income.

So get settled, grab a cup of tea or coffee and allow us to help get your 2019 off to a flying start. It's ready for you now in ebook format or to download in PDF format.


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    6th Jan 2019
    The claims about the 'retirement sweet spot' being a myth are confusing, to say the least.
    Assuming the government quoted average return of 5%, the couple quoted in the example could have an income of about $52,000 pa. WITHOUT touching their capital, whereas the couple with double those assets and cash ($800,000 + $80,000 cash) can only achieve an income of $40,000 with no pensioner concessions, quite likely management and administration costs reducing their net, and the threat of major loss if Shorten has his way.

    The part pensioner couple need not touch their savings, whereas to achieve an equal living standard, the wealthier couple must erode their savings until they deplete sufficiently that they qualify for a pension. And they derive NO benefit from their extra savings. The entire benefit flows to the tax payer.

    So the 'sweet spot' is not a myth at all. It is absolutely spot on! No wonder many who are nearing retirement are winding down their assets. Soon we'll have only a tiny percentage of very wealthy self-funding if this ridiculous assault on savers continues.

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