>australians will be retiring in luxury in 2055 with $500k AUD (equiv $300k USD)>meanwhile there are anons on /biz/ saying $1m is 'literally nothing'Your response, anon?
$500k is enough for Boomers because they bought their houses for like $200k and are now worth $1.5M.For any other generation you need $2M+ to survive.
>>59619048Australians also get a government pension if the superannuation is not enough.If assets are below 600k for singles or 800k for couples they get the pension.So if a single old guy retires with no house or other assets, but gets a 500k super fund payout, he can also claim a government pension on top of that.
Oh boy I can buy 1 (ONE) two bedroom house in the middle of Alice Spring when I'm 65 (retirement age when you can access your super) and get stabbed to death by a drunk abo. Huzzah!
I'm glad I'm not an Australian and $1 million is nothing at 65
>>59619036>retire in luxury>500K AUD fails to get you a housing deposit in Aus' m major cities>housing situation is only getting worse
>>59619036I'm not an old man and I have hobbies to fund and parents to care for
>>59619048>$500k is enough for Boomers because they bought their houses for like $200k and are now worth $1.5M.Then their property taxes will be unafforadable.$500k USD (after taxes) is enough to retire for anyone right now, people just don't live within their means.If you want to live in the hustle and bustle you need at least 5m though.
>>59621249property taxes are significantly lower in Australia than the US on average
Australia is giga expensive.
>>59619036Kek, I knew Australians were fucking stupid, not to this degree.
>>59622696We're even stupider than what you think. How this ever became a 1st world country is nothing short of a miracle.
