What income do you need in retirement? How to set up your money to have a secure income in retirement? According to AFSA (Australian Financial Security Authority) if you are a retired couple, you need an income of $42,560 to have a “modest lifestyle”. The modest lifestyle means – you can cover all your bills, you have sufficient income for food and basic emergencies, but not really to have comfort of overseas holidays or buying big presents for your grandchildren. Then to have a “comfortable lifestyle” which covers those extras, AFSA estimates a retired couple needs an income of $62,269p.a. If we look at income needs for a single pensioner, AFSA says that a “modest lifestyle” can be achieved with $28,165 and to have a comfortable lifestyle a single person would need an income of $44,146p.a. If we compare those income needs with the level of Age Pension, we can see the shortfall in every situation, even for a “modest lifestyle”. Single Pensioner – needs $28,165, while the full Age Pension will provide only $24,770, therefore there is a shortfall of $3,395.00 p.a. Retired couple needs $44,146 p.a. for “modest lifestyle”, while the full combined Age Pension will provide a retired couple with an annual income of $37,341 – shortfall of $6,805. Video mentioned: Age Pension explained: https://www.youtube.com/watch?v=dVT2yp6OyrU&t=285s To download the book 12 PRINCIPLES OF INVESTING: https://ebook.aboutretirement.com.au/12-principles-of-investing-download Contact details: Katherine Isbrandt of About Retirement Website: https://aboutretirement.com.au/ Email: hello@aboutretirement.com.au Or connect with me: https://www.facebook.com/katherineisbrandt/?modal=admin_todo_tour https://www.linkedin.com/in/katherineisbrandt/ https://www.instagram.com/katherineisbrandt https://www.pinterest.com.au/katherineisbrandt/pins/ FSG: https://aboutretirement.com.au/wp-content/uploads/2025/01/FSG-4.0-Online.pdf Katherine’s Adviser Profile: https://aboutretirement.com.au/wp-content/uploads/2025/01/KI-Adviser-profile-Online-PDF.pdf Shaun’s Adviser Profile: https://aboutretirement.com.au/wp-content/uploads/2025/01/SJ-Adviser-profile-V2-Online-PDF.pdf #KatherineIsbrandt #AboutRetirement