Retirement again:)

Discussion in 'Living Room' started by MTR, 23rd Sep, 2019.

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  1. Lizzie

    Lizzie Well-Known Member

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    I think yours is including a government pension - and retirement age of 67
     
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  2. kierank

    kierank Well-Known Member

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    I entered $0 for both our incomes and Super balances and it gave a retirement income of $36,709
    (the Aged Pension)
     
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  3. ellejay

    ellejay Well-Known Member

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    I entered 0 income for both of us, age 49 and it gives us a retirement income of $61800 ish. You can't enter any additional investments in this calculator though. The GESB one seems better.
     
  4. Marg4000

    Marg4000 Well-Known Member

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    If you look at the graph, it shows $36K from the pension and $11K from super when you get to retirement age.
     
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  5. SatayKing

    SatayKing Well-Known Member

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  6. Lacrim

    Lacrim Well-Known Member

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    Without kids (school holiday restrictions), airfares can be gotten for a song bc you can travel off peak. I mean the number of airfare deals I've seen but couldn't partake on a whim makes my eyes water.

    2 critical sites to nab bargain airfares:

    Secret Flying | Cheap Flights & Error Fares
    Skyscanner | Find the cheapest flights fast: save time, save money!
     
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  7. Lacrim

    Lacrim Well-Known Member

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    No way I'll be relying on this calculator. Might end up on the street.
     
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  8. Lizzie

    Lizzie Well-Known Member

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    Friends also use the Jetstar bargain bin for nipping around ... they usually are last minute, or have to be taken at odd times

    Sales and special deals | Jetstar
     
  9. Lizzie

    Lizzie Well-Known Member

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    Yep - totally not relying on those figures
     
  10. Lacrim

    Lacrim Well-Known Member

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    Yes that too. Some ridiculous airfares but never during school holidays...which rules people like me out.
     
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  11. SatayKing

    SatayKing Well-Known Member

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    What? Do you mean they are never finished?
     
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  12. Nodrog

    Nodrog Well-Known Member

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    No, endless new jobs.
     
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  13. SatayKing

    SatayKing Well-Known Member

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    Well, that is her job I suppose. To keep you out of mischief. You also realise the reason for home brew? The equivalent of the opiate of the Nodrog.

    Absorbing read of the posts in this thread. Focus is mainly on income which is understandable.

    We didn't work from that aspect. First and foremost it was how much will it cost to stay and pay for our residence, the cost of essential expenditure plus allowing for an annual increase in those costs.

    Once the baseline was decided, all other expenditure was a bonus really because we figured they were wants not essential needs. In a way it was what could we do without if things got nasty?

    Each to their own however.
     
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  14. Angel

    Angel Well-Known Member

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    Lizzie's calculator shows The Angels can have a comfortable retirement as long as we keep working at our current jobs and adding to our Super for another 8 years until I turn 67. I dont think so, it didn't know that Hubby is some years older than I am. I want to get any long haul travel done and dusted long before then, I cant sit still in the car for longer than an hour. I did like that it suggests "comfortable" includes about $14000 for leisure activities like movies, dining out and travel. I can accept that figure. When I was having a sookie yesterday about overseas travel, I had forgotten about the off-peak last minute airfares. Thanks for the timely light at the end of my Public Service working life :)
     
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  15. Lizzie

    Lizzie Well-Known Member

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    Do one for hubby - with you as the "spouse" - and see if it brings up a more favourable answer :D
     
  16. Angel

    Angel Well-Known Member

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    upload_2019-11-26_16-39-29.png

    Close enough to comfortable! It wants him to retire at 67. I figure that is better than asking me to wait that long. I wonder when it thinks we will both die and cease eating into our Super?
    *rhetorical question - no need to answer
     
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  17. PurpleTurtle

    PurpleTurtle Well-Known Member

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    The default seems to be 25 years of income once you retire. It can be adjusted under "disclaimers & assumptions"
     
  18. rizzle

    rizzle Well-Known Member

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    I don't trust the calculator above. Monte Carlo simulations on the S&P500 show that 4% is fairly safe withdrawal rate to maintain capital until death (but more than likely for perpetuity).

    AU equivalent calculator here based on this principle: Safe Withdrawal Rate Calculator – Ordinary Dollar

    For 99% certainty that you have at least 10% of your money left after a 50 year retirement length, you should adopt a maximum 4.2% withdrawal of your starting capital each year (you recalculate at the end of each year), assuming 50-50 split of AU stocks and US stocks.

    Therefore 1.5M portfolio generates around $63k a year income for perpetuity. It goes up to $73k for a 95% success rate. These are conservative as I haven't factored in divvies.
     
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  19. MTR

    MTR Well-Known Member

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    Try Travelzoo

    We are going to China early next year, $1000 each, everything included (7 days)
    4/5 star hotel
    Flying from Syd or Melb

    plenty of options if you want to travel
     
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  20. TAJ

    TAJ Well-Known Member

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    I have only been fully retired since August this year. What a feeling! Nothing better than owning your own time.
    Also, I have been pleasantly surprised after reviewing my outgoings across the period from August till now, of some savings I have made in certain areas.
    These savings present further opportunities for travel. Just wish I would of been able to do it 10 years ago!