{"id":874,"date":"2016-03-11T00:00:00","date_gmt":"2016-03-11T00:00:00","guid":{"rendered":"http:\/\/actinvest.com.au\/?p=874"},"modified":"2016-08-03T05:18:59","modified_gmt":"2016-08-03T05:18:59","slug":"cost-of-retirement-continues-to-climb","status":"publish","type":"post","link":"https:\/\/actinvest.com.au\/index.php\/cost-of-retirement-continues-to-climb\/","title":{"rendered":"Cost of retirement continues to climb"},"content":{"rendered":"<p>\u00a0<\/p>\n<p><em>The Association of Superannuation Funds of Australia (ASFA) retirement standard for the December quarter shows living costs for retirees have risen once again.<\/em><\/p>\n<p style=\"text-align:center\"><img loading=\"lazy\" alt=\"\" height=\"250\" src=\"http:\/\/www.plannerweb.com.au\/images\/cost-of-retirement.jpg\" width=\"375\" \/><\/p>\n<p>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/p>\n<p>The ASFA retirement standard estimates that couples need to spend about $59,236 per year, while singles will need to spend $43,184.<\/p>\n<p>Both categories increased from the previous quarter. The total budgets for older retirees increased by 0.5 per cent at both the comfortable and modest levels.<\/p>\n<p>While there was a modest rise, ASFA CEO Pauline Vamos said the cost of living had not increased substantially, which is positive for current retirees.<\/p>\n<p>&#8220;However, many Australians are still retiring with an inadequate amount of superannuation. In order to achieve a comfortable standard of living in retirement, an individual requires a minimum of around $545,000 and a couple around $645,000,\u201d said Ms Vamos.<\/p>\n<p>According to ASFA, the most significant price rises in the December quarter contributing to the increase in the annual budgets were domestic holiday travel and accommodation up 5.9 per cent, and international holiday travel and accommodation up 2.4 per cent.<\/p>\n<p>The most significant offsetting price falls were automotive fuel down 5.7 per cent, fruit which was down 2.6 per cent and communications down 2.4 per cent.<\/p>\n<p>\nWritten by Miranda Brownlee<br \/>\nThursday, 25 February 2016<br \/>\nSMSFadviser.com.au<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0<\/p>\n<p><em>The Association of Superannuation Funds of Australia (ASFA) retirement standard for the December quarter shows living costs for retirees have risen once again.<\/em><\/p>\n","protected":false},"author":1,"featured_media":875,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/874"}],"collection":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=874"}],"version-history":[{"count":1,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/874\/revisions"}],"predecessor-version":[{"id":876,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/874\/revisions\/876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media\/875"}],"wp:attachment":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}