Dear Ms Wise, I have $1.4 million in superannuation and my home is worth about $4 million with no debt. I am 64, I don’t have children, and I am happy to spend everything. Do I have enough to retire on at 65 if my annual expenses – with travel – are $120,000? I’d like to stay in my house and use a reverse mortgage. Mia
A: With a strong super balance and ownership of her home, Mia is well-positioned to fund a lifestyle of $120,000 a year (indexed to inflation) beyond her life expectancy of 88, says financial planner Suzanne Haddan, managing director of BFG Financial Services.
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