Want to know how much income you'll need each week to live a comfortable retirement?
A couple needs $1,114.78 per week to live well in retirement.10 That's achievable if you plan properly.
A secure retirement isn't all about a lump sum. A great approach to retirement is to think about the income you need to support the lifestyle you want to maintain and how you'll generate that income. But don't forget to think about how to protect the income you generate from risks like inflation.
What can you do to generate an income for retirement?
Convert your super into a tax-effective income: a transition to retirement pension can give you a tax-effective income to replace your reduced salary if you plan to scale back your working hours. Once you've retired, an account-based pension will deliver a tax-effective income to meet your living expenses.
Protect your income: you can protect your capital and safeguard your income over 10 years, 20 years or for life. This means you'll have a secure retirement income, the opportunity for income growth, protection if the market falls and upside if it rises.
