How much do you need to save for your retirement?
How much do you need to save for your retirement?
According to a recent report from Super Consumers Australia, the amount of money you need to save for retirement may be less than you expected. Their research has found that a single person only needs to have an additional savings of $88,000 by the time they hit 65, on top of their income from the Age Pension. For a couple, that number is slightly higher at $111,000. However, there is a caveat to these figures. The calculations assume that the pre-retiree or couple already owns their own home. This can be a difficult feat to accomplish in today’s housing market, especially for those who are self-employed. It’s worth noting that while these are encouraging numbers for those nearing retirement, everyone’s financial situation is unique and these figures may not be applicable for everyone.
It’s no secret mainstream banks are reluctant to approve home loans for self-employed borrowers. As such, they’ll typically make you jump through hoop after hoop, and put obstacles in your path, even if you are otherwise completely creditworthy.
At Direct Credit Home Loans, we believe being self-employed shouldn’t stop you from owning your home. So we’re incredibly flexible and assess applications based on their merits, rather than rigid rules. #homeloans #mortgages #realestate
We’ve helped many self-employed Australians buy property, and can help you too. Check out our range of loans
Call us on (07) 3726 1124 or email [email protected] to discuss your scenario directly with our credit team
