Episode 29: Retiring at 60? You Might Need More Money Than You Think

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Episode Description:

In episode 2 of a three-part series, we’re joined once again by Natalie Philips, State Manager of Allianz Retire+, an Australian company that develops retirement products for Australian retirees.

We discuss the financial impact of living longer and healthier lives, the lump sum amounts singles and couples need to retire comfortably, and the dangers of trying to DIY your retirement planning.

We also talk about the concept of “right-sizing” your living situation in your golden years, the challenges of planning for retirement at 50-55+, and how working with a financial advisor can help you achieve your retirement goals smarter and faster.

If you want to retire early without sacrificing your lifestyle, understand how much you need, and put strategies in place to get there, then make sure to listen to this episode!

Timestamps:

00:00 – Intro

02:37 – Navigating The 50-55 Life Stage

10:45 – Retiring Early Vs Working By Choice

14:20 – Reverse Modeling Retirement

20:48 – Age Pension Age

23:18 – Figuring Out Where to Live In Retirement: Downsizing and Rightsizing

29:59 – Living as a Couple vs. Single In Retirement

34:30 – DIY Financial Planning

40:13 – Utilising Financial Planning Software Tools

43:27 – Conclusion