In this guide
One of the biggest challenges for retirees is working out how much of their savings they can afford to spend each year.
Fear of running out of money and a reluctance to seek financial advice means many people withdraw the minimum amount required from their superannuation account-based pension.
There have been many attempts to create a simple rule of thumb to help people estimate the amount of retirement income they should aim for, although most have been developed overseas.
Learn more about retirement income rules of thumb.
But what if there was a simple, easy-to-remember rule of thumb to help Australian retirees work out the ‘’Goldilocks’’ pension drawdown? That is, an amount not so great you risk running out of money and not so small you live more frugally than you need to, but an amount that is just right.
It turns out there is.
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