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Planning For Retirement
How much do you need in retirement?
As discussed on the previous page, everyone's circumstances will be different, so there is no simple answer.
However, the Association of Superannuation Funds of Australia Limited, together with Westpac, have, through their research, produced the Westpac/ASFA retirement Living Standard, which provides the following guidelines for Australians (assumes retirees own their own home):
In the absence of any other information, these numbers at least provide some initial guidelines for your goal setting.