How much super is enough?

Discussion in 'Superannuation, SMSF & Personal Insurance' started by twisted strategies, 31st Oct, 2019.

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  1. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    3rd Nov, 2013
    Posts:
    874
    Location:
    QLD
    How much super is enough?

    goodness gracious !!

    how long is a piece of string

    we are in a low yield high risk world , what are the chances of the portfolio contracting sharply in the next 5 years ?

    i yes how far

    the magic of compounding only works well when you have dividends to reivest , and a dry patch ( no dividents or bond interest , is quite possible .

    add in the risk of political meddling , and 'save as much as you can ' is about the only sound advice left

    we are deep in uncharted territory , guessing is the dominant strategy , and yet you are expected to PLAN not gamble .. good game , good game

    ( anyone like to guess on the inflation in 10 years time ??? )
     
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  2. Terrence gardner

    Terrence gardner New Member

    Joined:
    8th Nov, 2019
    Posts:
    1
    Location:
    Launceston
    Hi, I an 59 and will go into transition to retirement next year. I have planned for 1 million dollars of super on a 5% drawdown. My wife has an air b and b that brings $50,000 per annum, we intend to spend the entire super over 25 years. At 85 I guess our needs will be minimal and we don't have kids to leave anything too.
     
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  3. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    3rd Nov, 2013
    Posts:
    874
    Location:
    QLD
    good luck , i hope your health holds up ( mine didn't )

    watch out for regulation changes

    cheers
     
  4. AnthonyK

    AnthonyK Active Member

    Joined:
    30th Oct, 2010
    Posts:
    44
    Location:
    NSW
    The pollies say for us citizens $1.6 Million is heaps but for themselves about 5 million capital value Pension account. Miss Julia Gillard got almost 6 million of mostly taxpayers money. Her pension was around $200,000 plus inflation per year at age 55 with a life expectancy of maybe 35 years.

    If you feel jealous at least its an honest emotion.

    More importantly what did she achieve for us citizens?

    Well she did impose a CO2 tax on us after saying: "There will be no carbon tax under the Govt. I lead!" on August 16th 2010 that's how she got the JULIAR tag in the Australian press.

    The $1.6 million for us citizens is based on the pollies assumptions that we are much lesser value beings and only due to get 75% of an average Aussie salary regardless of what we actually achieve in life. So take advantage of all the InvestChat entrepreneurial ideas and accumulate with many, many millions!
    AnthonyK
     
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