July 16, 2025

Luke on 2CC – How much money do I need to retire?

15 minutes

Financial Planner Luke Smith joined 2CC Talking Canberra in Money Matters, which aired live on Friday 11 July 2025. The topic for this week is: How much money do I need to retire? It’s a common question asked by those approaching retirement. In this episode, Luke provides some practical ideas and actions to help you think about your own retirement planning. Luke is joined by Leon Delaney, who is back from his break and back in his regular chair at 2CC.

Thank you for joining us live on 2CC, YouTube or your favourite podcast streaming service with ‘The Strategy Stacker – Luke Talks Money’.

Key topics covered include:

It’s a simple question but it can be complicated

It shouldn’t be about a number, as the number will be different for everyone, so what do you need?

It’s also not about having the same amount of money forever; you spend less as you age

A good place to start is thinking about your fixed costs and ancillary costs, and Luke explains what they include

What debt will you have in retirement?

What resources will you have in retirement to fund what you need? Working part-time could also provide add to your income.

How you generate your retirement income is a key consideration and there are different approaches

How much should you draw down from your assets as an income?

Travel and bucket list items are important too!

The age you can access your super (Age 60) is different to the age you can access the Centrelink Aged Pension (Age 67). Centrelink can provide a stable source of income in your retirement too.

In summary, Luke shares his top tips to help you get started on your own retirement planning journey.

https://www.envisionfinancial.com.au/wp-content/uploads/2025/07/The-Strategy-Stacker-Luke-Talks-Money-11072025.mp3

Our podcast is also available on Apple Podcasts, Spotify and YouTube – ‘The Strategy Stacker – Luke Talks Money’

Do you need help to start your own retirement planning?

Where will your retirement plans take you and do you have enough? Most people want to retire with confidence, being able to do the things they want to do and having enough so they don’t run out. Make an appointment to meet with Luke if you need help with your retirement planning.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement (including transition to retirement). Simply make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your own goals and situation.

Luke will return to 2CC to talk about other ‘Money Matters’ next week, we hope you can join us. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.

We look forward to your company again. Luke’s book Smart Money Strategy is out now.

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By Luke Smith