Nest Egg

Retirement Income - what, where, why, and how much?
By Alan Clarke


How much income do you need in retirement? Where will it come from?
In my 25 years as an adviser I have seen some people live on very little and many others who can’t. From various sources I have come across over many years, and assuming ownership of a debt free home, I have developed the two following bases;
- The income you will need to live very basically
- The income you will need to live comfortably
A “very basic” living standard would not include much fun, no alcohol, no dinners out, and limited travel.
A “comfortable lifestyle” would include some travel, dinner out from time to time, owning a decent car and eating better food at home, etc.
A single person living basically needs about $22,000 p.a.
A single person living comfortably needs about $35,000 p.a.
A couple living basically need about $33,000 p.a.
A couple living comfortably need about $50,000 p.a.