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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.

"Could I live on $268 per week?"

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

She documented her week-long journey, sacrificing her usual spends in favour of DIY yoga in the park, homemade cookies baked by her two girls, and more conservative choices at her favourite cafe. At times, even $20 proves "a bit too much".

"This challenge has taught me about my spending and my saving, and to start thinking about what I want in the future," Jacinta said.

Find out if they can make it through the week.

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

    • Female income - $80Kpa+ 9.5% SG contributions
    • Full time worker
    • Super balance :  $61,922 in super balance at age 40
    • Desired retirement age:
      • Female – 67yrs
      • Based on ABS report
      • Life expectancy – 90yrs (ABS)
      • No additional (non-concessional) contributions

    Cost of living assumptions made via the calculator here.

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

Start thinking about ways to boost your super,
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MLC Life Unchanging Challenge - Ben Fordham video

The life unchanging challenge

We challenged Ben Fordham, and his partner to live on what their weekly budget might look like.

Watch here

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