Quote Originally Posted by Aaron View Post
Finally it has been worked out $785,000 plus a mortgage free house for a comfortable retirement.
https://www.stuff.co.nz/business/mon...ces-retirement

Or has that been pointed out earlier in this thread. It is possible for me but will involve some significant sacrifice or some lucky investment decisions between now and retirement. Not sure if scrimping and saving my whole life for a comfortable retirement is the best option. Options are decreasing fast as time seems to speed up as I get older.
If you start with $52k at 25 years of age, then a 7% annual return compounding will get you to $785,000. (with no further additions)
So in theory that target should not be too hard to achieve. Most people would contribute say $2,000 per annum to their kiwisaver. If you start at age 30, you should be there by the time you reach retirement. (Big emphasis on starting early goes without saying).
For us in our 40's or later that target may be harder to achieve via traditional mean. A good friend of mine has about $52k now in his kiwisaver. Unfortunately for him he has about 20 years to retirement. That means at 7% compounding will only get him to $201,200.
So the moral of the story is.. start as early as you can.