Could you enjoy life on $320 a week? See how one young professional copes in this real-life budget challenge.
Things you should know
Based on insights from ABS and ASFA we have used the following assumptions to set the guidelines for Raman's challenge.
- Male income - $75Kpa+ 9.5% SG contributions
- Full time worker
- Super balance : $43,583 in super balance at age 30
- Desired retirement age:
- Male – 67yrs
- Based on ABS report
- Life expectancy – 90yrs (ABS)
- No additional (non-concessional) contributions
Cost of living assumptions made via the calculator here.