How long will your retirement last?

The table below gives the average life expectancy for males and females at certain ages. As you can see, you could spend a long time in retirement!

How many years will you have in retirement?

Age at retirement	Remaining life expectancy
	For males	For females
50	30	35
55	26	30
60	22	25
65	18	21
70	14	17

• Source: Australian Government Actuary. Australian Life Tables 2000–02: Expectation of Life at Selected Ages

To make sure your money does not run out, it’s best to plan for it to provide you with an income for at least 20 years. Otherwise, you may need to consider continuing to work for longer than you anticipated or making do on an insufficient retirement income.

Planning and saving for your retirement now will improve your chances of being able to retire when you want to, rather than having to continue to work.

Retirement planning can be complex, but Commonwealth Financial Planners are dedicated to making it simple to understand. If you would like to find out more about preparing for retirement, why not arrange an appointment with a Commonwealth Financial Planner? Simply phone 1800 241 996 or complete an appointment form.

 

Back: Your financial options in retirement

Next page: Beginning the transition to retirement

 

Important information

• The information contained on this web page is of a factual nature only and is not intended to constitute financial product advice. It has been prepared by Commonwealth Financial Planning Limited without considering your individual objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual needs before making a decision based on this information.
  
  Superannuation and taxation considerations are general and based on present superannuation and taxation laws, rulings and their interpretation as at 16 January 2009.
  
  Commonwealth Bank customers who wish to obtain information about retirement planning may do so by contacting a Commonwealth Financial Planner. Commonwealth Financial Planners are Representatives or Authorised Representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169, AFSL 231139, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.