I was surprised to see painted across a bank window recently the following:
"87% of Australians retire on $13,000 per annum"
This represents the single rate of the Aged Pension.
If I'd tried to guess how many people would fall into this category, I'd have said around 50% - 60%.
Are you surprised about this?
In today's dollars, what level of income do you envisage having in retirement?