60. How Much Money Do You Need In Retirement
Welcome back to another episode of the 360 Money Matter Podcast! In our experience as financial advisors, we’ve heard people often say “I need 1 Million Dollars to retire”. Well today, we’re here to give you a clear answer on what you actually need in order to prepare for your retirement.
How much money do you need in retirement? The short answer, you need as much as you can get! Going into detail, it actually depends on your personal circumstances, your lifestyle, and ultimately, the retirement life you want to live. Know where you want to go first, before figuring out how to get there.
Today’s episode tackles; the various sources of income, investing in a multitude of assets, superannuation, early retirement planning, and how to execute on all of these. The earlier you are aware of this conversation, the more prepared you can be for your retirement.
Begin planning now so you can enjoy a financially worry-free retirement life!
This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
- How much you need – according to various sources
- Ensuring that you have enough money for retirement
- Options on how you can have to save up for your retirement
- Expenses in the earlier & later years of retirement
- The Baseline you should start with
- Where do your assets sit
- Establishing another plan for early retirement
- Invest in a multitude of assets
- Putting your plan in place
- Your vision for your beneficiaries
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