$1.1M Super at 61: Can You Spend $5K a Month?

If you're looking to start investing in US and global markets from Australia with zero brokerage, Trading 212 makes it simple → https://www.trading212.com/join/LUKE Retiring at 61 with $1.1 million in super? See how long $5,000 a month lasts in Australia, with the Age Pension, returns and sequence risk modelled. You have $1.1 million in super, you own your home and you want to spend $5,000 a month. That is $60,000 a year from age 61. This video runs the numbers the Australian way, using the latest ATO, DSS, ASFA and Australian Government Actuary figures, so you can see when the money runs out and what pushes that date further away. Chapters: 0:00 $1.1 million super at 61 and a $5,000 a month budget 0:47 Accessing super at 61: tax-free account-based pension 1:26 Minimum pension drawdown and a 5.5% withdrawal rate 2:08 Bridging the gap to Age Pension age 67 3:26 How long $1.1 million lasts without the Age Pension 4:03 Age Pension assets test and part pension from 73 5:21 Investment returns, sequence risk and market crashes 6:44 Couples, renters and inflation 7:23 How to make your super last longer 7:45 Can $1.1 million fund $60,000 a year? Summary Check out the channel's playlists for more videos on retirement, tax, investing, super, and more. Retirement in Australia → https://www.youtube.com/playlist?list=PLQLTyWVl7eWbzf4hpqj_I_WNL1xRlVQGV Tax & EOFY → https://www.youtube.com/playlist?list=PLQLTyWVl7eWZlXZQcaF3j0N85O8SieHRU Superannuation → https://www.youtube.com/playlist?list=PLQLTyWVl7eWZg_kZinVmlIYHgFcXbKGjh Investing & Wealth Building → https://www.youtube.com/playlist?list=PLQLTyWVl7eWaGPVPmfb6PF5f4sF__9cIz Salary & Cost of Living → https://www.youtube.com/playlist?list=PLQLTyWVl7eWYqAWIOqTXdxvIG_6Z6LuBf Legal Disclaimer: This video is general information only and does not consider your objectives, financial situation or needs. Projections use assumed returns and inflation and are not guarantees. Consider seeking advice from a licensed financial advis