Luke on 2CC – How much do you need to retire?

How much money will I need to retire?


Luke Smith joined 2CC Talking Canberra 1206AM.
Financial Adviser, Luke Smith, Financial Planner CanberraThe Money Show aired on Friday 4 September 2020 and the topic: How much do you need to retire?  

Financial Planner Luke Smith joins 2CC to explore the issues around determining what you actually need in retirement as well as what the Government considers. Be sure to seek advice if you need help with your own retirement planning. They start the show however off topic – someone in Canberra just won $1 million in Wednesday’s lotto. Congratulations to them. If you need advice we’re here to help!

Key highlights include:

  • So have you thought about how much you need to retire?
  • Everyone’s situation is different – don’t worry about what others do, look at your own needs
  • The danger young people face – What you don’t understand, doesn’t scare you
  • ASFA say that $61,909 is a comfortable retirement income for a couple and $40,380 is a modest retirement income for a couple
  • An example of a self funded retirement and Centrelink retirement with some assets
  • Should you spend the kids inheritance?
  • What might a normal person’s expenses look like in retirement – that is, how much do you need?
  • Can you access Centrelink or use Franking Credits?
  • Are there things you should do before you get to retirement?
  • Luke’s top tips and take-a-ways for people working towards a happy retirement
  • How long does it take to transition to retirement from a financial perspective?
  • An offer for a free appointment to talk about your own retirement planning goals and objectives. Everyone has different goals and personal financial planning advice can help you achieve them more effectively. 

Listen to the Podcast right now

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

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Would you like help to work out how much you’ll need?

how much do you need to retire
Financial planning advice can help you achieve your retirement goals

Luke Smith at Envision Financial can help you set and work towards your own financial goals including the planning to get you to the retirement you’d like. We’re very pleased to let you know that we’ve returned to the office for appointments given Covid-19. Make an appointment to catch up with Luke face to face, over the phone or via video appointment. 

Envision 2CC offer:  Your first appointment is at our cost. Make an appointment to confidentially discuss your own financial, work and retirement goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.

Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.

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