You can’t retire until you’ve nailed your retirement number as a minimum (more money is better): $250000 in super for couples ....
At the time of writing, the maximum rate of Age Pension is $34252.40 per year for couples ....... it’s guaranteed by the government, it’s indexed twice a year to keep up with inflation and it will be paid until the day you die.
Hang on! The Govt. is also handing out to these couples, a guaranteed, risk free, millionaire's financial assets earning capacity.
An equivalent risk free investment of 1 million dollars, earning the deeming rate will not earn you $34252.
Everyone should get the pension and then make any taxable adjustment at the end of the financial year.
If NZ and UK can do it. Why can't we?
The Govt is forcing retiree's to take risks and placing them under unnecessary stress!
