How much capital do I need to retire comfortably on ?

[Harvey Specter]

I just think that the people of NZ's money should go to help those who need it. Based on history I am guessing national super will become unaffordable sometime around 2029. (1964+65)

I agree. I think super should be means tested with full trust look through.

But that needs to be phased in, along with an increase in the age of entitlement.

This is need so that the young (under 40?) can plan knowing they only will get it in certain situations. The effect of that change should also be a change in the taxation of super funds, either a lower tax rate or EET regime (rather that TTE).

Unfortunately, by the time Key is rolled (he has said not under his watch), Labour will probably have a leader opposed to an increase and means testing. This issue needs a cross party accord.

So back to the original question, that is why I think I need more than what the rest of you are saying. Because I think I wont be receiving national super, but I think I will still be paying taxes at the rate that assumes I am - the worst of both worlds. Anything left over will ensure my family are educated and the world made a better place. Hope for the best, plan for the worst.

[Aaron]

Sorry for hijacking your thread Roger. To answer your original question - BLOODY HEAPS but don't dare tamper with my National Super. If you don't achieve BLOODY HEAPS I'm sure you will still enjoy a fulfilling and happy life with your family and friends.

Thanks for a conclusive answer W69 I was thinking the answer was s**t loads but bloody heaps sounds like a better less vulgar target.

[macduffy]

I have discovered that you need $164k a year to live comfortably in retirement on, so $4.1 million :-)

No need for a rest home when you have a crew of 3,000 people to look after you.
http://www.wftv.com/news/news/weird-...uise-sh/njrYm/

It's only $4.1m if, at 86, one either intends to live forever or to leave the $4.1m intact for others!

The real answer to the question is, of course, "it depends".

[Beagle]

Sorry for hijacking your thread Roger. To answer your original question - BLOODY HEAPS but don't dare tamper with my National Super. If you don't achieve BLOODY HEAPS I'm sure you will still enjoy a fulfilling and happy life with your family and friends.

Its such a conundrum this thing. Unfortunately your answer is a little vague
Having raised two girls, one with many problems I've alluded too in this forum before, I'm not absolutely certain I'll make it from 53 to 70, (I am pre-supposing that in the absence of a cross party accord the Government will have no alternative but to dramatically delay the eligibility date at some stage soon to avoid the boomer tsunami as long as possible).

The biggest wave hits in 11 years (2026) as more people, (more than 50,000 born in 1961, more than any other year ever in N.Z. including John Key and myself)...not sure I want to mention him at the minute with ponytail-gate and all..anyway I digress. Pretty sure we'll follow Germany and other countries raising the eligibility age to the late 60's, I think Germany are already 67.

Some sort of re-introduction of national super surtax is probably logical, who knows if there will be some new Trust look-through provisions or not, I doubt it but how to be sure, quite obviously one can't be.

To be honest this **** used to really worry me but now I take a view that one should enjoy life as much as reasonably possible along the way, try to stay fit and healthy, make prudent and rational investment decisions, spend money on large capex items carefully and with moderation and much forethought and be adaptable to whatever outcome comes about if and when you reach retirement.

I have high blood pressure already...worrying about retirement planning doesn't help.

[BIRMANBOY]

Not too frazzle your nerves any further but WHO says for NZ the average life expectancy in 2012 is 82 and from 1990 to to 2012 was roughly 3 years gain every 10 year period. So extrapolating that out if you are retiring in 2022 or thereabouts the life expectancy will be 85. However with medical and genome research accelerating I would guess that it could actually be 90 or over. Failing that you could move to Chad where the life expectancy this year is 49.44 years.

[winner69]

I get the impression we think 10 to 20 years will be just an extrapolation of where we are today.

Imagine if the world realised continued growth and ridiculous levels of debt was unsustainable and that the greedy and morally corrupt corporates, moneymen and politicians had to brought to account.

Turmoil would exist for a while but the result would be a more decent, less materalistic and caring world. On that may see things based more on local communities working together and looking after each other. We may see more families living together with granddad and grandma being looked after in the big family home (good god there's enough big houses already that are under utilised). Even better no more big box Bunnings stores and supermarkets - it's off to the local hardware store and the local friendly butcher.

In that world BLOODY HEAPS of savings might not be needed. We can live happily ever after in a decent and caring society.

A study of social and generational trends and how they have cycled over the many centuries is an interesting topic.

[BIRMANBOY]

Have you been at the catnip again W? Are you hanging out for a monstrous solar flare to move us back into the 1950"s?

I get the impression we think 10 to 20 years will be just an extrapolation of where we are today.

Imagine if the world realised continued growth and ridiculous levels of debt was unsustainable and that the greedy and morally corrupt corporates, moneymen and politicians had to brought to account.

Turmoil would exist for a while but the result would be a more decent, less materalistic and caring world. On that may see things based more on local communities working together and looking after each other. We may see more families living together with granddad and grandma being looked after in the big family home (good god there's enough big houses already that are under utilised). Even better no more big box Bunnings stores and supermarkets - it's off to the local hardware store and the local friendly butcher.

In that world BLOODY HEAPS of savings might not be needed. We can live happily ever after in a decent and caring society.

A study of social and generational trends and how they have cycled over the many centuries is an interesting topic.

[Beagle]

I get the impression we think 10 to 20 years will be just an extrapolation of where we are today.

Imagine if the world realised continued growth and ridiculous levels of debt was unsustainable and that the greedy and morally corrupt corporates, moneymen and politicians had to brought to account.

Turmoil would exist for a while but the result would be a more decent, less materalistic and caring world. On that may see things based more on local communities working together and looking after each other. We may see more families living together with granddad and grandma being looked after in the big family home (good god there's enough big houses already that are under utilised). Even better no more big box Bunnings stores and supermarkets - it's off to the local hardware store and the local friendly butcher.

In that world BLOODY HEAPS of savings might not be needed. We can live happily ever after in a decent and caring society.

A study of social and generational trends and how they have cycled over the many centuries is an interesting topic.

A nice dream mate. Hold on to that one, you never know....there's always a chance it might happen

[percy]

Sorry I could not bear to turn back the clock.
Huge ques at the Post Office.
No service stations open during the weekend.
Sandwichs at Akaroa on a Sunday were made on the Friday,if you were lucky..!
Muldoon in full swing.
Priests raping the choir boys.
Charities's overheads eating up all funds raised.
Waiting for approval to take funds out on NZ for a holiday.
Stinking kerosene heaters.
And British cars that broke down all the time.[Morris Minors exempted]
Waiting lists for years for a new car.
Import licensing meant over priced goods.
Pubs closing at 6pm.
Today is the best of times,and I expect tomorrow to be even better.!

[winner69]

Sorry I could not bear to turn back the clock.
Huge ques at the Post Office.
No service stations open during the weekend.
Sandwichs at Akaroa on a Sunday were made on the Friday,if you were lucky..!
Muldoon in full swing.
Priests raping the choir boys.
Charities's overheads eating up all funds raised.
Waiting for approval to take funds out on NZ for a holiday.
Stinking kerosene heaters.
And British cars that broke down all the time.[Morris Minors exempted]
Waiting lists for years for a new car.
Import licensing meant over priced goods.
Pubs closing at 6pm.
Today is the best of times,and I expect tomorrow to be even better.!

You and Birman deserve each other, for not listening properly and jumping to conclusions

Utopia will be better than today. All the good things remain and get better but we won't have all that greed and other stuff we have now.

And the sandwiches at Akaroa will be freshly made with local produce by a lovely person enjoying the great new world. Maybe a salmon and avocado one ....sounds um