Imagine outliving your retirement savings by up to 13 years. This could be a reality for half of all Aussies aged between 40-65.*
Living longer is a great thing if you have the right plan in place to support your lifestyle after you’ve finished earning an income.
The first question most people ask when they’re thinking about retirement is, how long should I plan to be in retirement? The answer may surprise you. There’s a good chance you’ll spend 30 years in retirement, and many people aren’t financially prepared. This is called longevity risk — and it needs to be managed.
Prepare for a long, happy and financially secure retirement
Do something today: there’s no need to be paralysed by indecision. Commit now and take steps to prepare for a long and brilliant retirement.
Protect your income for life: you can safeguard your income over 10 years, 20 years or for life. This means you’ll have a guaranteed income once you retire and worrying about living longer than expected won’t be a problem.
*Investment Trends, Investment Trends October 2015 Retirement Income Report. 49 per cent of Australians aged 40-65 years anticipate they’ll outlive their retirement savings by up to 13 years.