Knowing what and where you will spend will make retirement planning much easier, and help you avoid retirees’ biggest fear: outliving their savings.
An Institute of Actuaries working group has devised a simple rule of thumb for spending in retirement, based on your age and assets.
Most Australians are worried about outliving their retirement savings, with pre-retirees the most concerned. But there are some simple steps you can take to help you worry less and sleep a little better.
Spending during retirement changes the longer you’re retired. Find out about the three stages and how it can impact the amount of money you will need.