How you could save $135,772 in Capital &

How you could save $135,772 in Capital.

Probably the most important table you need to consider .

	Modest lifestyle single p.w.	Modest lifestyle couple p.w.	Comfortable lifestyle – single p.w.	Comfortable lifestyle  couple p.w.
Housing – ongoing only	$60.65	$58.22	$70.30	$81.49
Energy	$40.48	$53.77	$41.08	$55.72
Food	$74.90	$155.15	$107.00	$192.60
Clothing	$18.05	$29.30	$39.06	$58.60
Household goods and services	$26.44	$35.85	$74.38	$87.14
Health	$37.28	$71.95	$73.97	$130.55
Transport	$93.36	$96.01	$139.13	$141.77
Leisure	$71.76	$106.91	$217.46	$298.00
Communications	$9.33	$16.33	$25.64	$32.64
Total per week	$432.26	$623.49	$788.02	$1,078.50
Total per year	$22,539	$32,511	$41,090	$56,236

 

The ASFA Retirement Standard benchmarks the annual budget needed by Australians to fund either a comfortable or modest standard of living in the post-work years. It is updated quarterly to reflect inflation, and provides detailed budgets of what singles and couples would need to spend to support their chosen lifestyle.

According to the latest data for September 2012, in general, a couple looking to achieve a comfortable retirement needs to spend $56,236 a year, while those seeking a ‘modest’ retirement lifestyle need to spend $32,511 a year.

The full article on this we have but unfortunately not the link from the Courier Mail 2/5/13

& hence you are welcome to email us for it.

So we have some choices i.e. do we want to be comfortable or better on retirement & when do we want to retire.

The Capital required depends on the interest rate available & how long do we live & do we draw down the principle.

Simply if you want to be comfortable & rates are 5% [which is not today] then the capital you require is 1,124,720+. If you draw down on principal then the article suggests  a capital sum  of 900,000 at age 60 or 780,000  at age 65.

In every case the capital required to retire on is MUCH More  that the house that we live in.

However what does Mum suggest we do. ‘Settle down & buy a house’.

We would agree with that if you follow the basic guidelines which are

·         Is it cheaper to buy than rent?

·         Will this be your last house?

·         Where are you sending the kids to school?

·         Do you have a 30% deposit?

·         Are you ‘handy’?

Surely the larger capital sum needs more time as more important. Hence we suggest that a house might be deferred although we certainly agree that a family needs a home.

We are all sucked in by the big boys who lie & we need to re-examine our concepts & priorities.

Let’s look at the table & examine where you could make a serious saving.

The article says The seniors’ healthcare card ensures that the cost of the drugs she uses don’t eat up her remaining savings. (Our refrigerator does look like a pharmacy.)

i.e. your future health bill could be on average 130.55p.w. or 6,789p.a. which suggests $135,772 in capital is required to fund your health needs.

We need convincing that the health system will actually look after you in your later years. We believe that it looks after itself, is avaricious & simply doesn’t solve your future medical condition.

George wants to know today that there may be a better solution than morphine for his back pain. There are too many vested big boys & we aren’t dopes.

What has worked for us for 15 years & our family & 600 top athletes & the WTA girls has been on the prevention side. Our top clients agree with us. Nobody even wants the flu  especially an employer or the self employed & we know that no one gives you your due respect when you are either poor or unhealthy.

 Nobody wants to use their insurance which is a lot dearer than our  alternative suggestion. It won’t get cheaper & the 30% rebate is reducing by stealth.

As ‘Gerald’ a radiologist client said years ago ‘if everyone was on these he would be out of a job’.

Ok we are not qualified in the medical business but  we probably can race you up our drive.

Our proposition for you is

·         If we were in your position what would we do?

·         Is there a more efficient way for you?

If you want to maximise your dollar then health is certainly one way for you to do so.

Why not request our comparative guide to indicate one company that maybe able to help you.

Maybe you could use a personalised health assessment available on its site normally valued @$55.

It only takes 15 minutes to complete.

You will receive details of your top health risks, a customised health and lifestyle plan  and a nutrition recommendation for you. Most people find these reports invaluable.  
 

If you would like to spend more on travel & less on health either today or later then we can introduce you so that you are healthier. Hence fewer money worries. It is as Myrna wrote on ‘peeling the onion’ today ‘a core belief’ of hers & ours.

You might need more capital as you might live longer. Yes they do cost you 10+p.w. each.
Wwe haven’t factored in that capital cost.

Of course as it is  nearly June 30 you might want a financial efficiency examination.
You are welcome to call on 07 3848 1088 or email or visit our websites.

We have various EOFY strategies for you. We may have a better way to maximise your dollar.

 

John McAuliffe