Rethinking How Much You Actually Need to Retire

Most people try to work out how much they need to retire before they've worked out what they actually want retirement to look like. It's no wonder, when you're constantly hearing you need $2 million or some other massive number to retire. For a lot of Aussies, that turns retirement into something they'd rather not think about. Today Nick walks through how to work out what enough actually looks like for you, and why once you do, most Aussies find they're already further along than they think. On this episode, we discuss:  (00:00) Intro (01:32) Nick's "enough" framework for retirement (04:00) Why most people start retirement wrong (05:08) Picturing your ideal retirement (06:20) Ask what makes you happy first (06:53) What fills your day at 65? (10:29) Attaching numbers to what you want (11:47) Real cost of a comfortable retirement (13:05) Super figures for a $100K retirement (14:57) Compound returns doing the heavy lifting (15:31) When the pension kicks in (17:36) Downsizer move that boosts your super (19:00) What if you live past 92? (21:25) Getting serious at 40 vs 55 (22:33) $2 million myth vs the real number (23:39) The bell curve, why you're not behind Check out the free resources from Inovayt here. Send us an email: hello@thenumbersgamepodcast.com.au The Numbers Game is brought to you by Future Advisory & Inovayt. Hosts:Nick ReillyJason Robinson This podcast is produced by VIDPOD. Check out our new website thenumbersgamepodcast.com.au. Browse the full show catalogue, jump straight to specific moments on the topics you love, or leave us a voice note. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.