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Retirement planning: Before, during and after - the big picture with Fidelity's Richard Dinham

Australian Investors Podcast

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How to Save for Retirement

The minimums drawdown requirements from the government start at 4% between age 1665. And they do increase. It goes up to 5% above age 65 and then increments up to I think it's 11% above age 90. So you have to draw down that amount, although from your super, although you could just take it from super and put it in the bank or something. But so that's a heuristic that is commonly used. A savings rate of half your age was actually pretty good. It was actuarially pretty close to a good rate of saving would be. That would give you something around a replacement ratio of 70% if under assumptions you needed sort of 30 plus

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