Retirement's shifting sands


Podcast: Details

Do we really need to save $ 809,000 for each family to get some rest, according to a recent Massey University survey?

Retirement – in theory – is the time of your future years when your working life is over, you sit down, relax, set your feet, spend a lot of time with your grandchildren, learn the harp, whatever you like.

But last week an investigation was released by Massey University. Zake head on Items.co.nz It may have brought joy to those who were about to retire from work.

“Choose a difference: Couples need $ 809,000 nest egg to retire and ‘options’ at age 65”, it was read.

“There will be a very small number of people going, ” that is not enough ‘,” says retired committee member Jane Wrightson.

“And there will be a lot of people going, ‘that’ s impossible ‘.

“Of course, the main message is: do not be afraid.”

And Things emphasized that in a the next section a few days later.

Naturally, there was more to it than that (as a marginal note, and a good rule of thumb to read beyond the title): this study analyzed the effects of retirement, and saw the amount of income, beyond what is provided by They will need to maintain living standards for 25 years, from years 65 to 90.

Your lifestyle and where you are makes a big difference to this: a family living in a rented apartment in a city that wants to have a more sophisticated lifestyle – where your basic needs are cared for, and you spend a lot of money on luxury and fun food. – requires $ 809,000.

But a family living in the most unsustainable suburbs (supposed to live anywhere outside Auckland, Wellington or Christchurch) only needs to save $ 75,000.

So, there is a big difference, but research emphasizes the need to plan for the future when it comes to retirement.

Today on Details, Emile Donovan sits down with Jane Wrightson to discuss the study; which tells us about planning for the future when people are living longer, and the importance of not taking your eyes off the ball when you think about your past years at work.


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