The word "Saving" is synonymous with Retirement Planning.
"Save early so you can live the life you want in retirement" "Top up your Super" "The more you save, the better off you will be"
Whilst that is all true; a recent report by the Australian Government shows that the constant urge to save for retirement has led to unnecessary frugality during retirement.
Retirees are over-estimating their expenses and consequently not drawing down enough on their savings. They are also altering their financial decision-making and compromising their lifestyle.
Rather than enjoying this time with confidence that the money they have saved for so long will last, they are making drastic cut-backs.
While some people do so in order to help curb their excesses or leave behind some money for family, the fear of running out of money has resulted in many leaving unintentionally large bequest in their estate.
Life expectancy and projected expenses can give you greater clarity and greater flexibility in spending during retirement.
Retirement Specialists like ours at Sage can show you exactly how long your money will last and give you the confidence to spend more and enjoy your retirement without the risk of running out of capital.
You have worked so hard to save for the retirement you have dreamed of, it's time to live it or lose it.
Call us on 08 9445 2955 to see how we can help you manage your income effectively.