Page 6 - FWP Wealth-Adviser-Issue-121 (FWP)

ISSUE 121
SEPTEMBER 2025

circumstances are favourable—anything saved above the approach. Use industry benchmarks as a guide, but never as
minimum can provide freedom, comfort, or extra options the sole determinant. By starting early, seeking advice, using
later in life. available calculators and tools, and acting on knowledge
Successful retirees adapt as conditions change—spending throughout one’s career, Australians give themselves the
more in early retirement, reducing needs later, exploring best chance not just to survive—but to thrive and enjoy life
gradual work transitions, or leveraging Government age in retirement, whatever it may bring.
pension when appropriate. AMP’s modelling highlights the
benefits of acting early: making even small changes (review-
ing investment mix, increasing contributions, or using salary References
sacrifice) sooner can dramatically affect outcomes. • How much do you need to save for retirement?
Practical strategies include: Mark LaMonica, CFA. Morningstar Australia, 2025.
• Saving above the guaranteed minimum, especially when • How Much Do You Need to Retire Comfortably in Australia?
young or able. AMP Insights Hub, 2025.
• Adjusting investments as your risk tolerance or circum- • Retirement Standard.
stances change. Association of Superannuation Funds of Australia (ASFA), September
• Incorporating potential inheritance, sale of property, or 2025.
downsizing into plans. • Retirement savings targets: How much do you need to retire?
• Exploring innovative products (such as AMP’s Lifetime Super Consumers Australia, January 2025.
solutions) to extend or stabilise retirement income. • How much super do Australians need to retire? It could be less than
• Factoring in health, family needs, and likely spending you think.
patterns on leisure and essentials. SBS News, June 2025.
A fulfilling retirement isn’t just about hitting a number— • Replacement Rate Explained: 2025 Guide For Australian Retirees.
it’s about maintaining options, independence, and the abili- Cockatoo, May 2025.
ty to respond to life’s surprises with security and dignity. • How much super should you have today?
Moneysmart.gov.au, reviewed 2025.
Conclusion • Grattan Institute comments on retirement.
Rethinking retirement means moving beyond the “magic Joey Moloney, Grattan Institute, cited in SBS News, June 2025.
number” toward a practical, adaptable, and personal

6