Busting the $1million retirement myth

To provide for a reasonable retirement, many pundits will tell you that you need a superannuation balance of $1m or more. Others believe such estimates are unhelpful and assert that you may need only a fraction of that amount to enjoy a long and comfortable retirement.

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In this episode, Gemma Dale interviews nab’s Head of Retirement Brian Long on why the $1million retirement balance is a myth and helps to answer questions such as:

• How much you really need for a comfortable retirement lifestyle in dollar terms
• Why you may need just $35,000 to fund your total retirement needs
• What risks can derail your retirement plan and how to plan around them, and
• What you can do to improve your prospects if you’d like a more aspirational lifestyle.

 

The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au

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