Quote:
Originally Posted by Trevor 57
We have a couple of friends (couples) who both have no debt (own everything) and they say around $25 to $45k per year is what you need (don't listen to the Super funds), accessing the Age (part) Pension is a big help. One couple just got back from a 4 week trip to Europe
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The one piece of advice I gave all my kids was no matter what they do in their life, the one thing they must try to achieve is to own the roof above their heads outright and be totally debt free when they reach retirement age.
If you don't achieve a sufficient self-funded nest egg and have to rely solely on the pension, you will be able to live comfortably at least.
It's those people who are on the pension who are still renting or paying off their mortgage, debts, cars, credit cards, etc... That find it difficult on the government pension.
The current couple (living together) full pension is $40,238 p.a. indexed.
If you can't live on that (being debt free) and have no kids to support, then there is something wrong IMO.