How much pension do you need for retirement and the lifestyle Barefoot Investor will buy
Australians can retire for far less than the retirement industry recommends – if they are prepared to forgo the flashy new car and regular holidays abroad. Financial advice writer Scott Pape, better known as Barefoot Investor, has suggested $250,000 is enough for retirement. That’s less than half the $535,000 that the Australian Pension Fund Association (ASFA) recommends for someone receiving a 67-year-old pension from July 2023. Pape recently endorsed a recommendation from Super Consumers Australia, who believe that $258,000 is enough for someone who has paid off their mortgage. Financial advisory writer Scott Pape, better known as Barefoot Investor, has suggested $250,000 is enough to retire at Director Xavier O’Halloran said the figure, based on a living of $38,000 per year, was designed to reflect someone who maintains an existing standard of living. Super-saving recommendations for homeowners SUPER AUSTRALIAN CONSUMERS : $258,000 savings on individual live from $38,000 a yea