The ongoing angst for most retirees is whether they will have enough money to last their retirement, including the mental discomfort of not knowing whether they will have the capacity to live a standard of living that is not on or below the poverty line.
Part of that angst when planning for retirement will of course be to ensure a person has enough savings (and to leave enough) to support the lives of two people (if a partner is involved). Many Australians also want to leave some inheritance for the kids and grandkids.
The problem of longevity risk, that is, outliving your retirement savings, which also can be expressed as running out of money before you die, has become a hot topic, especially as many Australians live into their late-eighties and early-nineties.
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