Retirement can be a big change, and it's totally normal to feel a little disoriented as you transition. But fear not, there's a powerful theory about transitions that can help you navigate.
My husband and I left the working world at age 38 in 1991. It was a huge change. We had the numbers down, but by far, the hardest thing to manage was the emotional component of retirement. That was unexpected and no one was speaking of it in those days, so we have been writing about it ourselves for decades. Thanks, Bec, for bringing this up to your Readers!
I sent a reply to 2 different email addresses. They both bounced. I enjoyed the Retirement newsletter but would like a comment on the $70,000 amount for a comfortable retirement per year. Comfortable can mean different things to different people! Especially single females for example! Just curious. Cheers Catherine
Hi Catherine, you can email me anytime at hello@epicretirement.net. The $70,000 (or just under) is the amount that is designated by the Australian Association of Super Funds (ASFA) for a couple to live in comfort in retirement. ASFA offer a budget that is revised quarterly, to help people calculate and benchmark their standard of living. They say that currently, for a comfortable retirement you need to budget $69,691 for a couple and $49,462 for a single person. They also calculate a modest budget as an alternative for those who cannot afford to live in 'comfort'. This sits at $45,106 for a couple and $31,323 for a single person. It is a very helpful tool: https://www.superannuation.asn.au/resources/retirement-standard
Great information and as I am going to retire in January 2024 just what I need to know about this new idea
My husband and I left the working world at age 38 in 1991. It was a huge change. We had the numbers down, but by far, the hardest thing to manage was the emotional component of retirement. That was unexpected and no one was speaking of it in those days, so we have been writing about it ourselves for decades. Thanks, Bec, for bringing this up to your Readers!
Hi Bec,
I sent a reply to 2 different email addresses. They both bounced. I enjoyed the Retirement newsletter but would like a comment on the $70,000 amount for a comfortable retirement per year. Comfortable can mean different things to different people! Especially single females for example! Just curious. Cheers Catherine
Hi Catherine, you can email me anytime at hello@epicretirement.net. The $70,000 (or just under) is the amount that is designated by the Australian Association of Super Funds (ASFA) for a couple to live in comfort in retirement. ASFA offer a budget that is revised quarterly, to help people calculate and benchmark their standard of living. They say that currently, for a comfortable retirement you need to budget $69,691 for a couple and $49,462 for a single person. They also calculate a modest budget as an alternative for those who cannot afford to live in 'comfort'. This sits at $45,106 for a couple and $31,323 for a single person. It is a very helpful tool: https://www.superannuation.asn.au/resources/retirement-standard
Bec, I replied to your email but have just been advised it did not go through ! I do not feel like repeating it. Any chance you can find it?Catherine