Retirement Planning & Experiences

[Quickstatus]

$50k each pa

If no coffee or alcohol ...
Would want any Renos done before retirement.

Are people downsizing to a smaller residence?

 

[SYD]

If no coffee or alcohol ...

Plenty of coffee and booze. Just don’t retire to PER…

Do the sums. You’ll be surprised. Note that a Super pension is tax free, so the equivalent to something like $65k in non Super (taxable income).

Would want any Renos done before retirement.

Yes. Or see below…

Are people downsizing to a smaller residence?

Not yet, but an excellent way to top up Super!

 

[cove]

If you remember prices 30 years ago then you need to allow for the same thing happening over the next 30 years if you are planing a long retirement. Of course your needs will reduce as you get into the dreaded nineties.

 

[CaptJCool]

If you remember prices 30 years ago then you need to allow for the same thing happening over the next 30 years if you are planing a long retirement. Of course your needs will reduce as you get into the dreaded nineties.

Unless you are one of the 8% who end up in live-in aged care … where your ‘accounting’ income is used to determine your weekly payments

 

[MARTINE]

If no coffee or alcohol ...
Would want any Renos done before retirement.

Are people downsizing to a smaller residence?

We actually upsized but also kept an apartment in the inner city. We wanted to be coastal and only child and partner live close by and always wanted land so we have access to all options till we drop off the perch. We have renovated multiple houses and say never again — but as in medicine — never say never.
Might do up the apartment (not much needed as those massive older style art deco places with big ceilings:sensible layout and gardens are well designed).
…love retirement as have been doing it for at least 20 years - parttime or semiretirement (it always felt like the latter). Never bored as most friends in same boat and near us — massive garden, travel, films etc…and COFFEE