Jane is 63 and is looking to retire in the next few years. She’s mortgage-free and wants to know if the amount she currently has in her super fund will be enough to afford a comfortable retirement or whether she will need to work a little longer.
We worked with Jane to determine how much income she would need to purchase a new car at retirement. Our projections showed that while she’d be drawing down on her superannuation in the first few years, once she is eligible for an Age Pension, her superannuation will be able to fund her retirement well past her life expectancy. Establishing this gave Jane the confidence that she could retire at age 65.
We also modified her investment strategy, which was very aggressive and switched to a more conservative option to minimise investment volatility leading up to her retirement.