Money magazine Comments - Ask Paul: We have invested $2.23m, can we retire comfortably?

Comment by Alan ()

Alan () — Wed, 10 Jul 2019 17:15:40 +1000

They ask can they retire comfortably? Well if you can't retire very comfortably on that asset base there is something wrong with your lifestyle. Good assets, owning your home and no debt is the key to retirement.
You have far and away many times more than most people have in their early 60's so if you want to retire from the rat race, yes do it now but get some financial advice along the way.

Reply to article

For original story, Click Here.

Comment by Sarah ()

Sarah () — Wed, 10 Jul 2019 19:40:40 +1000

Hi Paul, I'm sorry, but I didn't understand where the $73,000 figure came from in the story above: you identified $30,000 from super and $4000 from savings annually = $34,000 - where did the rest of the income come from?

Many thanks

Reply to article

For original story, Click Here.

Comment by Mike ()

Mike () — Wed, 10 Jul 2019 20:52:31 +1000

Agreed 100%. If you can't retire comfortably on $2.3M then "there's something very wrong", meaning that either your quality of life took a massive uptick in retirement or you're worrying about nothing.

Reply to article

For original story, Click Here.

Comment by Peter ()

Peter () — Thu, 11 Jul 2019 09:30:21 +1000

Sarah - he's added income derived from the investment property @ $750 per week.

Reply to article

For original story, Click Here.

Comment by Rick Woodstock (xxx)

Rick Woodstock (xxx) — Mon, 02 Sep 2019 19:21:05 +1000

the weekly rent of $750

52 x 750 = $39,000

Reply to article

For original story, Click Here.