Our goal is to work with you to not only maximise your financial viability and opportunity now, as well as to ensure that we provide you with the guidance, advice, and support to plan for security later in life. Today more than ever, with ongoing inflation and rising living costs, it is important that people consider and plan for how they will live post-retirement. This is especially true for Gen X's and later.


In an article published on News.com.au in recent weeks, it was reported that only 19 per cent of us will retire comfortably, and Gen X Aussies will have to save up to $4 million dollars to enjoy their golden years, according to new research. These stats mean that the majority of Australians – over 80 % of us are at risk of "falling short" when it comes to the affordability of comfort in our later years. Furthermore, the article shared research statistics that forecast "anyone born after 1984, will likely need between $2.09 - $3.98 million dollars for a comfortable self-funded retirement in 26 years' time"

Obviously, the idea of comfortable is subjective and can change from person to person, however, according to SuperGuide, they suggest that a couple today can generally enjoy a comfortable retirement on about $60,000/year – which will require a significant lump sum investment, with the aged pension only covering a small percentage of living needs. For the coming generations such as millenials, the reality is much more stark with lump sum figures hitting the millions. The report continued to indicate that there were enormous - around$3.5 trillion dollars – in funds expected to be passed on from Australian Baby Boomers to their children over the next 20 years suggesting that about 75 per cent of all Gen X and Y with surviving parents will inherit an average of $110,000. If invested wisely, these funds could set up their future.

And that is the most important take-out from this discussion – that it is important to use what is available today to start investing for the future. It was also suggested that Australians, in general, have a limited understanding of smart, long-term investment options, which can cause feelings of being overwhelmed and lead to inaction. The key is to start learning now. Regardless of what stage of life you are at it is important to seek out the right advice from trusted sources. It is also important for parents and grandparents to actively work with their children to set up Estates and Investment portfolios that work for the whole family over the very long-term.

Education is key to success when it comes to financial investment and no matter how daunting things may seem, when you are proactive and sensible in your approach anything is possible. If you would like any information or advice regarding your personal estate and retirement planning please contact us today for an obligation-free consultation with our Wealth Advisory team.