It’s surprising how many people expect the Age Pension to fund their retirement, yet most people don’t know how much the Age Pension actually pays. Well, here’s the number:
The maximum age pension is currently $22,721 per annum for an individual.
And if you’re a couple, it’s not double that, instead it’s only $34,252.
These numbers are the simple reason why the BIGGEST regret of Australians over the age of 65 is that they didn’t save enough for retirement.
So ponder this question: How will you feel when you wake up one day, having worked hard your whole life to find out your annual income will be cut to just $22,721 a year?
That will be your reality without a plan for your financial future because you will not have accumulated what you deserve from all your years of working and you’ll run out of money.
You now know what the Age Pension pays, you now know what the future looks like without a financial plan. Now is the moment to start knowing your stuff so that you won’t wake up many years from now knowing you’re stuffed.
There’s no time to waste. Start taking action. And a great first step would be to get financial advice to help you create a financial plan.