Couple is self-sufficient
RETIRED couple Bryan Raine, 65, and his wife Trudi, 66, are completely self-sufficient in retirement.
Several decades ago Mr Raine realised the pair wouldn’t be entitled to receiving the aged pension and said he needed to be diligent in planning his retirement.
In December last year he quit a lifelong career in the wool industry and said it’s great to be financially comfortable after years of hard work.
“I was working for a European wool company and they had compulsory super so I started putting in money away in the 1970s well before super became compulsory in Australia,’’ Mr Raine said.
“Whenever I got a bonus I was putting as much as I could into super because I knew I wouldn’t get any handouts and I wasn’t going to get any help, I had to look after myself.”
Together they draw about $50,000 from their superannuation balance a year and Mr Raine said he played golf more regularly and they planned occasional holidays.
According to the ASFA retirement standard couples need about $59,570 a year to live comfortably.