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Life unchanging

The MLC Life unchanging Challenge

To get a taste for a possible life in the future, we decided to challenge three Australians to find out how prepared they are. Will they be able to keep the best of today?

Follow Ben and Jodie, Jacinta, and Raman who are armed with a camera, a selfie stick, and a budget that represents the average Australian Super Saving living allowance for their demographic at age 65.

"Am I going to be able to keep enjoying the kind of life I enjoy now?"

That’s the central question behind the $587 challenge that MLC set for radio personality and TV host Ben Fordham and his wife – the dollar amount representing the average Australian Super Saving living allowance for a couple in their demographic.

What happens when they need to buy a birthday gift, a round of sushi costs $25 and he can’t get back and forth over the Sydney Harbour Bridge for less than $37?

  • Based on insights from ABS and ASFA we have used the following assumptions to set the guidelines for Ben’s challenge.

    • Male income - $100Kpa + 9.5% SG contributions
    • Female income - $80Kpa+ 9.5% SG contributions
    • Both full time workers
    • Super balance : Ben  $145,076 in super balance at age 45
    • Jodie: $61,922 in super at age 40
    • Desired retirement age:
      • Male  - 67yrs
      • Female – 67yrs
      • Life expectancy – 90yrs for both genders
      • No additional  contributions

    Cost of living assumptions made via the calculator here.

    These are assumptions only and not a forecast. Different assumptions would produce different results.

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MLC Life Unchanging Challenge - Raman video

"I'm likely to be eating out for breakfast, lunch and possibly dinner."

With a busy lifestyle, and a passion for hitting the golf range, can Raman succeed in the MLC Life Unchanging Challenge?

Watch here

MLC Life Unchanging Challenge - Jacinta video

"Could I live on $268 a week?"

That's the question Jacinta, a single mother of two, asked herself when she undertook the MLC Life Unchanging Challenge.

Watch here