{"id":1933,"date":"2023-04-27T05:42:23","date_gmt":"2023-04-27T05:42:23","guid":{"rendered":"https:\/\/blog.villages.com.au\/?p=1933"},"modified":"2023-04-27T05:44:38","modified_gmt":"2023-04-27T05:44:38","slug":"there-is-no-single-figure-to-determine-how-much-is-needed-to-retire","status":"publish","type":"post","link":"https:\/\/blog.villages.com.au\/retirement\/there-is-no-single-figure-to-determine-how-much-is-needed-to-retire\/","title":{"rendered":"There is no single figure to determine how much is needed to retire"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1933\" class=\"elementor elementor-1933\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-85c7f45 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"85c7f45\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-92b8d63\" data-id=\"92b8d63\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-da0a2a8 elementor-drop-cap-yes elementor-drop-cap-view-stacked elementor-widget elementor-widget-text-editor\" data-id=\"da0a2a8\" data-element_type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>O<strong>ne of the most often published stories is the one bearing the headline: $1 million is needed to retire comfortably.<\/strong><\/p><p>Unfortunately, retirement isn\u2019t as simple as that. Every person will have a specific set of needs, wants, beliefs, preferences and prejudices that will dictate how much capital they should have tucked away before they can transition from relying on gainful employment to financial independence.<\/p><p><strong>There are many organisations that will try to fit you into a box and tell you how much you should live off in retirement. The first is the Federal Government. It will tell you when you can retire and on how much.<\/strong><\/p><p>The full aged pension currently sits a $41,704 a year for a home-owning couple and $27,664 for a single. If you don\u2019t take action, this is the fall back one-size-fits-all solution you will be offered.<\/p><p>A good place to start is working out how much you need to live now, and then decide how much more or less than that you will require to truly feel financially comfortable.<\/p><p><strong>Choose the number that works for you, then reverse engineer how much capital you\u2019ll need to achieve that and how you\u2019ll get there.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>One of the most often published stories is the one bearing the headline: $1 million is needed to retire comfortably. Unfortunately, retirement isn\u2019t as simple as that. Every person will have a specific set of needs, wants, beliefs, preferences and prejudices that will dictate how&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"_mi_skip_tracking":false,"footnotes":""},"categories":[71,70],"tags":[77],"class_list":["post-1933","post","type-post","status-publish","format-standard","hentry","category-money","category-retirement","tag-financial-advice"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/comments?post=1933"}],"version-history":[{"count":9,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1933\/revisions"}],"predecessor-version":[{"id":1944,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1933\/revisions\/1944"}],"wp:attachment":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/media?parent=1933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/categories?post=1933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/tags?post=1933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}