Sure, it depends on life style. However, a couple of winter months in Europe doesn't happen every year for many oldies, it may happen a few times in one's life when a senior, but certainly unlikely to be every year. There are also warm places in Australia.
The number 16 is the factor by which I needed to multiply my annual Defined Benefit pension by (conveyed to be recently by the ATO) in order to add the result to my personal superannuation fund. If it got to over $1.6m, then I needed to contact my accountant. For me, personally, I have a very modest DB pension and a very modest personal super fund, so I am far from reaching anything like $1.6million, lol. Also I receive zero aged pension. My purchase of my current house some 11 years ago has seen its value more than double.....Oldies do OK, well at least those self-funded ones do.
