Feb 29, 2024  | Tags: media, Retirement

Our insights in the Australian Financial Review

Excerpt:

About half of retirees use minimum drawdown rates, which range from 5 per cent to 9 per cent according to age, as a proxy for what they should spend each year in retirement.

Ben Calder, who runs Adelaide-based Calder Wealth Management, says the idea of cracking open the proverbial nest egg is daunting for most people.

“We obviously see a lot of the Boomer generation and they have grown up with a bigger savings mentality and aversion to debt than the following generations,” he says.

“That paradigm shift from saving as much as you can for 30-plus years of working to retiring and then being told to spend your savings is not an easy process. It’s probably one of the most confronting shifts in our lifetimes.”

Read the full article here.

Get to know Ben Calder.