OR How Little
A COUPLE in retirement now needs nearly $50,000 a year to maintain a comfortable lifestyle with higher food and petrol prices hitting their budget, new data says.
Inflation for a couple living comfortably in retirement rose 1.1 per cent during the March quarter, new figures released for the Westpac ASFA Retirement Standard show.
They would need to spend $49,502 a year to maintain their lifestyle, up from 0.6 per cent in the December quarter.
A single person would need $37,002 a year for a comfortable lifestyle in retirement.
Couples with a more modest lifestyle need $26,851 a year, a 1.2 per cent rise, up from 0.9 per cent in the December quarter. A single person leading a modest lifestyle would need $19,141 a year.
The Association of Superannuation Funds of Australia, together with Westpac, found that to have a comfortable lifestyle, retired singles who live in their own home need to spend $36,607 a year and couples $48,648.
A COUPLE in retirement now needs nearly $50,000 a year to maintain a comfortable lifestyle with higher food and petrol prices hitting their budget, new data says.
Inflation for a couple living comfortably in retirement rose 1.1 per cent during the March quarter, new figures released for the Westpac ASFA Retirement Standard show.
They would need to spend $49,502 a year to maintain their lifestyle, up from 0.6 per cent in the December quarter.
A single person would need $37,002 a year for a comfortable lifestyle in retirement.
Couples with a more modest lifestyle need $26,851 a year, a 1.2 per cent rise, up from 0.9 per cent in the December quarter. A single person leading a modest lifestyle would need $19,141 a year.
The Association of Superannuation Funds of Australia, together with Westpac, found that to have a comfortable lifestyle, retired singles who live in their own home need to spend $36,607 a year and couples $48,648.