$80,000 passive income portfolio for retirement (full case study) | [3/4] Selfwealth LIVE

It was great when ordinary people did not have financial insecurity in retirement created by government outsourcing pensions to superannuation. I recently paid a financial advisor $4,000 for a one hour consult. After phoning him for further information he said "happy to meet, it will cost another $4,000". I would not be surprised if the net net for government of this move has created an increase in tax collected plus less going to pensions. Firstly, fewer people able to get a pension and the entire industry around super generating tax e.g. tax on 3 trillion dollars in super plus the thousands of people working in the industry paying tax. The losers are pensioners. I now spend every day looking at financial markets, bond movement, the inverted yield curve and the weekly changing bank term deposit rates for an annual income less than the old age pension. There is just a constant wall of worry in retirement. If I could get the old age pension I would be happy, after working all my life and paying tax. The only way for me to achieve a full pension is to divorce my partner of 40 years.

How is the high steaks and tofu portfolios going

A holiday in India can be very cost effective if living as the average pilgrim.

Interesting… my parents are retired and spending around 2k a month all inclusive. No debt repayment…. 80k would be a massive luxury to them.

i cant get on to them what going on

Very disappointing podcast, too much general chit chat on retirement strategies and advice. The scenario was specifically set up to provide advice for Cathie and Wood to provide an $80K pa income but Drew and Jamie did not even get close to providing specific advice as to how this could be done! Debt was $423k and investments/cash/offset $295K so how was debt to be paid off prior to retirement? How was super structure to be maximised over the next 5 years and was downsizing of the PPR necessary to add to the income producing portfolio? What strategy did Drew and Jamie recommend to produce an $80K income for Cathie and Wood for the first 10 years in retirement and what did the next 2 x 10 years periods look like for them?? Owen needed to guide his guests back to the case study instead of being content with common-sense commentary.

What are the etf picks to achieve this?

I appreciate your approach to teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green and my retirement is edging closer by the day.

Having tracked expenditure for years, I'd fully endorse the $80K base expenditure for empty nesters .... if you have to pay income tax, that would be in addition to the $80K.

Did they actually answer the question : Weather or not the couple had enough assets for a 80k per year retirement?

Interesting. I think a lot of people would love to see a case study like this for a single person in their 20’s

I’m trying to work out how the following line from Cath and Wood’s scenario was calculated and what it represents: * Already have $1.02m, less debt of $320,000

Shouldn’t it be already have assets totalling $2,225,000 and debt totalling $423,000 ??

If someone could explain that would be appreciated

For a couple in their early 60's I would consider doing a Transition to Retirement Strategy - putting in the maximum amount into super ($27,500 each) and then the closer you get to retirement, if you want to wind down at work (work less days) you can start taking out a pension from your super fund at the same time. You can access your super from aged 60 in a TTR (Transition to Retirement).

Interested to see what the plan / strategy would be 5, 10 or 20 years out.