How much capital do I need to retire comfortably on ?

[Aaron]

Not sure if these links work but to flog a dead horse.
I guess the article assumes that the current system for NZ Super is sustainable. Is NZ Super a Ponzi scheme or has money been put aside to cover it. I am not sure as it wasn't debated in the last election and that is the stuff I leave to my elected leaders in government to work out.
http://www.stuff.co.nz/business/mone...ucks-to-retire

[Beagle]

Not sure if these links work but to flog a dead horse.
I guess the article assumes that the current system for NZ Super is sustainable. Is NZ Super a Ponzi scheme or has money been put aside to cover it. I am not sure as it wasn't debated in the last election and that is the stuff I leave to my elected leaders in government to work out.
http://www.stuff.co.nz/business/mone...ucks-to-retire

Thanks for sharing. Interesting that they arrived at a figure of $350,000. I arrived at $257,000 in post #104 for a comfortable retirement, (less or nearly nothing if you have a freehold rental property), but the key assumption underlying my figure was that you could earn an average of 7% gross per annum on a balanced portfolio of investments which is probably not too tough for those of us on here, most of whom seem to be intelligent investors. Good article that sheds some more light on this mystery, thanks for sharing.

Percy mate, I haven't bought that supercharged Jaguar yet....my appetite for one got significantly blunted this week when I took our 8 year old Mercedes-Benz in for some suspension repairs

[macduffy]

All these estimates are a waste of time if you don't take account of individual needs and lifestyles. A bit like the much touted "living wage" - for a single person living in, say, Ashburton or Marton? Or for a person with dependants living in Auckland or Christchurch?

Now, I've got that little matter off my chest, back to earning enough for a living wage and a comfortable retirement!

[Beagle]

No question each person needs to account for their desired lifestyle in retirement, a point I believe I made earlier...but I think a useful starting point is to get a general idea of what's an average target so people can start using that as an opening frame of reference in their considerations...and in that respect if I do say so myself, I think this thread has been a real success.

[percy]

[QUOTE=Roger;571461.

Percy mate, I haven't bought that supercharged Jaguar yet....my appetite for one got significantly blunted this week when I took our 8 year old Mercedes-Benz in for some suspension repairs [/QUOTE]

Roger,a word to the wise;
If you ever want to retire with capital, there are two important names you should always think of when your mind turns to vehicles,Toyota and Nissan.

[Beagle]

Yep there's no doubt about if my friend, if you want to retire and drive fancy European cars and update them every so often one is going to need a heck of a lot more than $257,000. I think this explains why you see so many retired folk driving fairly modest Japanese made cars. Cheap to buy, fuel-up, maintain and they're durable. Right sizing one's expectations in regard to standard of living in retirement is one of the key aspects of addressing this conundrum

[fungus pudding]

Roger,a word to the wise;
If you ever want to retire with capital, there are two important names you should always think of when your mind turns to vehicles,Toyota and Nissan.

You could add Honda and Mazda as well.

[artemis]

Not sure if these links work but to flog a dead horse. I guess the article assumes that the current system for NZ Super is sustainable. Is NZ Super a Ponzi scheme or has money been put aside to cover it. I am not sure as it wasn't debated in the last election and that is the stuff I leave to my elected leaders in government to work out......

About the sustainability of NZ (universal) super. Couple of years ago The Treasury produced some forward projections on this topic, among others. They reckoned that raising the entitlement age to 67 over time and also tying increases to inflation rather than wages would work. With some provisos.


Report is below, an interesting read.

http://www.treasury.govt.nz/governme...-13-aof-qg.pdf

[fungus pudding]

Why??????????????????????????????

Reliability.

[percy]

Reliability.

Yes I should have included them.I don't have experience with Honda,but I recently had a Mazda rental car.Drove really well,and the rental car company spoke well of them