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Planning
Income
Life expectancies
The good news is that Australians are living longer and
enjoying better health than ever before. In fact, Australians have one of the
highest life expectancies in OECD countries, and this should only continue. Of
course, there are no guarantees - but at least the statistics are on your
side.
30 years or more in retirement is a lot to look forward
to
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The current
average life expectancy for men is around 78.
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The current average life expectancy for
women is around 83 years of age.
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Men who are already 60 can expect to live
until they're 81.
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50% of the
population will spend at least 35 years in retirement.
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Women who are now 55 can expect to live
until they're 80.
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Statistics based
on 2000-2002 Life Expectancy Tables released by the Australian Bureau of
Statistics, and from The Association of Superannuation Funds of Australia
Limited (ASFA) Fact Sheet 14.
Your financial needs
When you're thinking about your retirement, you're
generally planning for around 30 or more years of your life. Now that's a lot
of time for tennis, grandchildren, travel or your other goals.You may also need
to consider expenses such as moving to a retirement village or nursing home.
Most people incur more medical expenses in their final years of life than at
any other time. It's all a matter of making sure there's enough to last.
How much will you need?.
How much will you need?.
| Find out more about retirement |
|
Find a financial adviser using BT's Adviser Referral
Program. Learn about BT's pension plans. |