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Want to know how much income you'll need each week to live a comfortable retirement?

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A couple who owns their own home needs $1,133 per week to live well in retirement.10 This could be achievable if you start planning now11.

A secure retirement isn't all about ending up with a big lump sum at the end of your working life. Another way to think about how much you’ll need in retirement is to consider how much income you’ll need to support the lifestyle you want to maintain and how you'll generate that income. You should also think about how to protect that income you’ll generate as you approach and while in retirement from risks like inflation.

Make a plan to generate an income for retirement

Make 2016 your year of action: take some concrete steps to understand how much you’ll need to live on, and how you can get ready now for great retirement.

Convert your super into a tax-effective income: a transition to retirement pension may give you a tax-effective income to replace your reduced salary if you plan to scale back your working hours. Once you've retired, an account-based pension may deliver a tax-effective income to meet your living expenses.

Protect your income: you can protect your capital and safeguard your income over 10 years, 20 years or for life12. This means you'll have a secure retirement income, the opportunity for income growth, protection if the market falls and upside if it rises.

“Generating the right level of income — and protecting that income stream — is one of the most important parts of retirement planning.”

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