Many people believe they need a million dollars to retire. That number sounds ideal, but it’s not necessarily true. Your retirement savings goals depend on your lifestyle, spending habits, and your future planning.
What does comfortable in retirement really mean?
Understanding your retirement savings goals
Everyone’s idea of comfort is different. Some people dream of travel, while others prefer quiet days at home pottering in the garden. Your retirement savings goals should reflect your plans and values. If your home is paid off and your expenses are modest, you may not need as much as you think.
The Age Pension can also support many retirees by covering daily costs. When you know your living needs, it becomes easier to plan your retirement savings goals. One of our trusted financial advisers at LBW can help you work out how much you will need for your chosen lifestyle.
Building a steady income for life
Comfort in retirement is about a steady income, not one large balance. You can combine super, savings, investments, and the Age Pension to build a reliable income. This mix helps your money last for as long as you need to.
LBW can help you align your assets with your retirement savings goals. With expert financial planning in Geelong, you can grow your savings and adjust your spending to fit your long-term needs.
Reviewing and adjusting as life changes
Your retirement goals aren’t set in stone; they evolve as life does. Expenses rise, priorities shift, and unexpected events can reshape your plans. Regularly reviewing your goals helps you stay on course and make small adjustments before they turn into bigger challenges. At LBW, we’re here to guide you through every stage, so you can look toward retirement with confidence and peace of mind.
Plan your future with LBW
A comfortable retirement is not about reaching seven figures. It’s about knowing your savings support the life you value. LBW can help you plan your retirement savings goals and guide you with caring, practical financial planning in Geelong. Talk to our team today by booking in a consultation through our website or call (03) 5221 6111. LBW is here to support you through a relaxing and stable retirement.
This blog provides general educational information only. The content does not take into account your personal objectives, financial situation or needs. You should consider taking financial advice tailored to your personal circumstances.
LBW Business + Wealth Advisors is an Authorised Representative of LBW Wealth Pty Ltd ABN 56 652 382 128 AFSL 534569. Please see our website www.lbwca.com.au or call 03 5221 6111 for more information on our available services.
