The only re­tire­ment book you need

Fi­nan­cial guru Nick Bru­in­ing will show how re­tirees can live well with just $270,000 in sav­ings and su­per­an­nu­a­tion

Albany Advertiser - - NEWS - Ben Har­vey

WA’s best-known fi­nan­cial ad­viser has a sim­ple mes­sage to ev­ery Aus­tralian wor­ried about dy­ing broke: Don’t Panic.

Three years after his first book ran off shelves as read­ers were drawn to his no-non­sense brand of ad­vice, Nick Bru­in­ing’s fully re­vised and up­dated edi­tion of Don’t Panic: More rea­sons you don’t need $1 mil­lion to re­tire well is now on sale.

At 160 pages, the book is 50 pages big­ger than its pre­de­ces­sor.

Bru­in­ing’s easy-to-fol­low for­mula for a stress-free re­tire­ment has been fully re­vised and up­dated to take into ac­count the plethora of su­per­an­nu­a­tion law changes since 2015, the fall­out from the bank­ing royal com­mis­sion and changes in the world in­vest­ment en­vi­ron­ment.

With the reper­cus­sions of the royal com­mis­sion still be­ing felt, Bru­in­ing ex­plains how read­ers can choose a good fi­nan­cial plan­ner, how much they can ex­pect to pay, and what fees and charges are rea­son­able when it comes to their nest eggs.

And the con­ser­va­tive blue­print for in­vest­ing de­tailed in Don’t Panic will be wel­comed by the army of in­vestors feel­ing jit­tery after last week’s share­mar­ket rout.

“There’s a very clear five-step thought process that guar­an­tees we all panic about not hav­ing enough money to re­tire on,” Bru­in­ing says.

“You read some­where that a re­tiree needs $45,000-$50,000 a year to live com­fort­ably.

“You fig­ure that you and your part­ner won’t have to spend your golden years eat­ing beans on toast washed down with a $4 clean­skin from Dan Mur­phy’s.

“Out comes the cal­cu­la­tor and you work out that based on a safe, se­cure bank ac­count re­turn of about 3 per cent, the lump sum re­quired to gen­er­ate that in­come each year is: $50,000 di­vided by 0.03, or $1,666,666. “Now you start sweat­ing.

“You to­tal up your su­per­an­nu­a­tion, your sav­ings and the odd clutch of CBA, AMP and Tel­stra shares that you have col­lected over the years and you come to a grand to­tal of a lit­tle over $300,000. “Now you panic.” Bru­in­ing says in­vest­ment “pro­fes­sion­als” build for­tunes con­vinc­ing peo­ple that they need a huge nest egg to avoid liv­ing in poverty. “That’s why they will never tell you that a cou­ple with $270,000 in su­per­an­nu­a­tion and sav­ings can eas­ily gen­er­ate an after-tax in­come of $48,000 a year, have it in­dexed for life us­ing lower-risk strate­gies and still have funds for travel and other fun things,” he says.

Don’t Panic: More rea­sons you don’t need $1 mil­lion to re­tire well is pub­lished by West Aus­tralian News­pa­pers and is avail­able at lead­ing book­stores and newsagents for $29.95, or can be or­dered on­line at­panic.

The book comes with the added bonus of a pull-out, easy-to-use house­hold bud­get spread­sheet and a ready-reck­oner of fi­nan­cial thresh­olds and lim­its.

Edi­tor of The West Aus­tralian, Brett Mc­Carthy, said the new book was timely given the scan­dals un­cov­ered by the royal com­mis­sion.

“Ev­ery day for months Aus­tralians have been hit with new rev­e­la­tions of wrong­do­ing by the big fi­nan­cial ser­vices com­pa­nies we have en­trusted with our re­tire­ment nest eggs,” Mc­Carthy said.

“Nick Bru­in­ing prides him­self on de­liv­er­ing un­con­flicted ad­vice and he has con­tin­ued that tra­di­tion in Don’t Panic: More rea­sons you don’t need $1 mil­lion to re­tire well.

“If, like most peo­ple, you are be­wil­dered by the world of in­vest­ments and su­per­an­nu­a­tion, then you will feel more in con­trol of your fu­ture by read­ing this book.”

Avail­able at lead­ing book­stores and newsagents, or or­der on­line at­panic.

Pic­ture. Iain Gille­spie

Nick Bru­in­ing with his book, Don’t Panic: More rea­sons you don’t need $1 mil­lion to re­tire well.

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