That phrase was popularised by Mark Twain 120 years ago (but not the super bit). So please dear reader, consider if this is a lie…

The Association of Superannuation Funds of Australia (AFSA) found that:

• 90 percent of those aged over 80, on their death, had no superannuation
• 75 percent of those aged between 70 to 79, on their death, had no super
• Just over 50% among those 60 to 69, on their death, had no super

What? Empty? Nothing left? Nothing?

There are those who do indeed challenge these statistics. The debate goes like this, and I’m sure you have heard it before. This alternative view suggests that retirees are living so frugally there exists a wealth transfer to the next generation. Rather than using their superannuation to enhance their standard of living, instead they end up dying with large superannuation balances (2020 Treasury Retirement Income Review).

Hmmm...Who do you believe?

What really does represent a healthy draw down on your retirement reserves whilst leaving enough for later?

And how long will I live?

Like you, I have some very definite opinions on this, and as a proponent of “Lifestyle Engineering”, my opinion won’t agree with lots of people.

But the answer is out there…

Smith Thornton Accountants has great financial advisors in this space. They even look after my own superannuation fund, and I take their counsel regularly. For someone like me being in the game for over 45 years, I reckon they provide balanced sensible advice. If you are concerned about engineering your retirement lifestyle, you should talk to Tammy Stone at the convenience of our Albany office. She is part of the Knight Financial Group. Tammy.Stone@knightgroup.com.au