depending on if you are managing you own super - if so, I suggest if you can't make 5% including franking credits from $2 m ------ you are doing something wrong - after all, that's only 5% drawdown and you should be getting cg as well. I would also split my pension up into 12 payments but only draw the next one when one needs it - and not before the due date - that way you maximise the rest of the money working for you and if perchance you don't spend your monthly pension within the month - then your yearly drawdown may well be less than planned - something similar to that anyway.
Personally if you are 60 --------- I would not bet on just getting to 80 ----------
that's 20 years of technological growth
I would aim for 100 years of living - people who live to 100 aren't as common as duck poop yet - but the numbers are growing rapidly.
In fact in 20 years I expect it not rare to see people being 110.
The only real risks I see are how to manage your finances when you really get old ----------- I would start thinking about replacement trustees now - and probably outside family - unless you can get around the vested interest bit.
If at some stage you realise you are losing the odd marble -- pass the bloody ball and set up your friends to keep you informed -- if in doubt of what to watch for - see some Billy Connelly on ageing.
If you are starting to dribble or have a damp patch on your pants or similar - especially if you go around saying to yourself "how did that happen?" (prostate problems excepted) -------- pass the bloody ball :) - you know what I mean.
the only other thing that comes to mind is that at present $100k gives you a pretty comfortable life - but late or, I would think your expenses would slow - except for medical/nursing - but 100k should cover most things I guess.
Personally for shares I like small to medium dividend paying solid companies - one's where you can have a big enough holding to get on the phone or visit the cfo/ceo/chairman -------- bugger the telstras/bhp's etc. --------- if the ceo's can't keep a track on these monoliths - how the hell can a small investor.
Being small to medium allows you to get to know them intimately - it also usually means they have still a lot of growth left in them - as long as they are solid, honest and honourable --------- they are around, even if only a handful of them.
imo $2m is enough - but you would have to keep an eye on it - but that is a good thing - it is foolish to do nothing.
At $5 mil you could just about shut your eyes - but I wouldn't - always keep one eye on them when you can - and find a trustee or 2 with the same ideas as you ------ lets face it - unless you don't wake up one day -- you are going to be dependant on them.
