Retirement: how income grows once you’ve retired

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60 per cent of retirement income (on average) is generated after you retire.*

So ‘keeping active’ is important in more ways than one.

What will it cost you to live the way you want after retirement? That’s a question everyone planning for or in retirement needs to think about. If you already own your own home, a couple needs around $1133 per week to live a comfortable lifestyle – that’s just under $59,000 per year. Will your retirement income cover this?

You can boost your retirement income — it’s not that hard

If you’re investing in shares, choose companies with an income focus: you can invest in a portfolio of companies that generally pay out part of their profits as dividends. These are usually large, growing companies — often household names. So the value of your shares is likely to grow over the long term, and you’ll also receive income to support your day-to-day expenses.

Build and protect your retirement stream: you can grow and protect your income for life. This means you’ll have a reliable minimum income, exposure to growth assets and protection if the market falls.

Find out how you can save your retirement here.

Important information

Source:

* Wiley, Collie and Smith – The Retirement Plan Solution, 2009

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