Researchers have surveyed a group people who are making a very comfortable income, and noticed something about how they think of money.
What they found is that most people drastically UNDER-estimate how much money they need to make in order to achieve their financial and lifestyle dreams.
And this phenomenon is consistent across all income levels.
One question asked was….
If you’re an Australian and you have a nest egg of $1 million, how much annual income will that provide for you after retirement?
According to financial experts, the answer is $50,000 per year.
And that’s excluding tax.
Most Australians assume that $1,000,000 is a big enough nest egg to live on comfortably after retirement.
But how much do most retirees actually have?
Only $150,000. That’s the average super fund balance depending on what metrics are used and by who, but it would be close.
The “nest egg myth” is just one myth most Australians believe about finances.
And we aren’t the only ones who underestimate what we need to achieve our financial goals.
Which is why when people are surveyed and asked: “Can your current investments (outside the family home) support you and your financial goals?”
9 times out of 10 the answer is : ” haven’t thought about it really ” .
And 9 times out of 10 the reason many people don’t reach their financial goals is because they don’t have a plan or a strategy.
You just can’t achieve great wealth without this simple formula :
KNOWLEDGE STRATEGY IMPLEMENTATION
Only giant corporate CEO’s have the ability to amass huge sums of money in their super funds because of their massive incomes.
It’s a different world for normal wage earners and the self-employed.
This is why investment properties are such a good option for many people.
There’s really no way around it if you want a legitimate chance of achieving your financial goals, your travel goals, your purchase goals, your family goals.
That’s why the Australian government supports investors with very generous tax benefits.
When you’re ready to look at some options that can truly help you achieve your financial goals, a good place to start would be to see Liberty Strategies and arrange a no obligation FREE financial wealth consultation.
We provide an “end to end” service for smart people who want to position themselves financially.