How much income do I need in retirement, is a question that I get asked quite a bit.
When I was talking to a client, she had a conversation with a few friends about that and their view was that ultimately they didn’t want to spend any less in retirement than they were spending now.
They had their hobbies, their lifestyles and holidays that they liked and they wanted to continue that into retirement.
The industry would say 75% of your income should be enough to maintain your current lifestyle.
I think 75% of your income close to retirement will be enough but I think it’s a calculation that’s on a case-by-case basis.
You need to look at how much your lifestyle costs and you need to look at what your retirement income will be – What your retirement income will be and what it is projected to be.
Watch my full video HERE
If you need help understanding your retirement income feel free to get in touch for actionable advice backed up by experience!