Have you left it too late to start saving for your retirement?

Have you left it too late to start saving for your retirement?

Theoretically, how much money you need in retirement depends on how long you live. Although there is no such crystal ball for this, we know that improved healthcare and economy has resulted in people living longer than their parents’ generation.

When budgeting for retirement, try to go for the maximum life expectancy. Men can expect to live up to 86, women to age 90. This means if you retire at 60, you need to fund your living expenses for at least 26 to 30 years, if not more.

With the government making it harder for us to save tax effectively for retirement, it’s never too early to start thinking about how to maximise your retirement income. By acting earlier, you have a better chance at achieving and funding the lifestyle you want.

If you want to know how you can improve your retirement you need to speak to one of the advisers at Aspect Wealth. We specialise in retirement planning and can assist with any questions you might have. Please don’t hesitate to contact our office on 07 3354 9000