Retirement

Discussion in 'Investment Strategy' started by WhereismyHouse, 22nd Nov, 2020.

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  1. WhereismyHouse

    WhereismyHouse Member

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    Okay very obvious question, and excuse me for not thinking about it much earlier.

    **Background : Moved to Aus 5 yrs ago. Bought first PPOR early this year in Marsfield. 2 kids and one wife :) . Both of us make appx 200k/year**

    Thinking about retirement makes me shiver. Wondering how much money would I need to have a decent living.

    My intial thoughts were 3 properties. One for us to live and 1 for each kid. but then a friend messed up my plans by finding a massive loophole. He said " Where will earn money from".

    From experience, how much money I would need if I plan to retire around 60. I am currently 37.

    Would rent from few properties be enough or Govt helps oldies?


    Cheers to the life:)
     
    WhereismyHouse, 22nd Nov, 2020
    #1
  2. Shazz@

    Shazz@ Well-Known Member

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    You can go onto your superannuation fund website where they have calculators to work this out. From there, work backwards as to what you need to achieve this number.
     
    Shazz@, 22nd Nov, 2020
    #2
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  3. Shogun

    Shogun Well-Known Member

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    Screenshot_2020-11-22-19-34-51-43.png

    Seek professional advice.
    If I read that correctly the lady would have been better off selling her house at say 60 then 100k into super every year till retirement
     
    Shogun, 22nd Nov, 2020
    #3
  4. The Y-man

    The Y-man Moderator Staff Member

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    Is that like $200k each? :eek:

    The Y-man
     
    The Y-man, 22nd Nov, 2020
    #4
  5. Patrico1966

    Patrico1966 Well-Known Member

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    They are only examples and two different situations but I would have like to have seen the value of their PPOR. Money can be made in that area as well.
     
    Patrico1966, 22nd Nov, 2020
    #5
  6. skater

    skater Well-Known Member

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    How long is a piece of string? You need to work backwards. How much income do you need to live on, each year, in today's money. Once you know what you want, you can work out how to get it.
     
    skater, 23rd Nov, 2020
    #6
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