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This is my back up plan!

That is right. Property and shares will still be growing and could be sold off if need be. And retirement doesn't mean you will never earn another cent for the rest of your life either. Some develop money making businesses, some inherit, some get gifts from children etc.

Hi Truong Thanks for showing us some real life figures. Assuming someone had $1mil invested in the same proportions as that we would get $460,000 in shares generating an income of $32,660 $310,000 in property generating an income of $9,920 (possibly much less due to holding costs so say...

Yes, I know several who are living just on the pension with virtually no investments. See to be doing alright too.

Don't forget the GST. This is one reason it was introduced, to tax those not working but still spending.

This is a very good point greedy. I have a client (of my law firm) who has retired and is doing this right now. At first I couldn't understand why, but it does make sense. Shares or EFTs have no stamp duty, no repairs, no agent fees, no land tax, no whinging tenants. But they do have...

A couple with a house paid off earning say $55,000 (5.5% return) or $27,500 each after tax (no tax in some instances) would be plenty to retire on.