Are You Making Ends Meet?

16th Dec, 2012

The Association of Superannuation Funds of Australia (ASFA) has released an update of living standards (September quarter 2012) i.e. the income per annum required to meet living expenses:

                        Modest Lifestyle                   Comfortable Lifestyle

Singles:          $22,539 pa ($450,780)           $41,090 pa (821,000)

Couples:        $32,511 pa ($650,220)            $56,236 pa ($1,124,720)

We have included in brackets the capital sum required to generate the suggested income (assuming a 5% pa return).

If your wealth strategy is not structured to achieve the capital indicated, then it may be time to seek some professional advice to review and update your wealth strategy.  For those already in retirement and, and finding it hard to meet their  income requirements, it will also be worthwhile in setting down with a professional to discuss your options or consider options to develop an appropriate income (including access to Centrelink), cashflow and managed capital reduction strategy.

The Wealth Creation Group has the necessary people with the skills and experience  to help you achieve a more financially secure future. Why not call us now on +613 5221 8911 and ask for Frank McCall.

 

Disclaimer

This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information.  Opinions constitute our judgments at the time of issue and are subject to change. Neither, the Licensee or any of the National Australia group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this document. Frank McCall and The Wealth Creation Group Pty Limited are Authorised Representatives ofApogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee, Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia group of companies. 

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The Wealth Creation Group and its Financial Advisers are Authorised Representatives of WCG Financial Solutions Limited, Australian Financial Services Licensee 481610, Registered Office at 351 Moorabool Street, Geelong VIC 3220.
Disclaimer: The information contained in this website is of a general nature and has been sourced on good faith as such it should not be construed as personal advice. Whilst the writer has adopted care, diligence and competence, the information has not been prepared taking into account any particular investment objectives, financial situation or particular needs. The Wealth Creation Group and WCG Financial Solutions Pty Limited accept no responsibility for any content contained in external links on other company websites or externally sourced information.