$1.1M Super at 61: Can You Spend $5K a Month?

If you're looking to start investing in US and global markets from Australia with zero brokerage, Trading 212 makes it simple → https://www.trading212.com/join/LUKE Retiring at 61 with $1.1 million in super? See how long $5,000 a month lasts in Australia, with the Age Pension, returns and sequence risk modelled. You have $1.1 million in super, you own your home and you want to spend $5,000 a month. That is $60,000 a year from age 61. This video runs the numbers the Australian way, using the latest ATO, DSS, ASFA and Australian Government Actuary figures, so you can see when the money runs out and what pushes that date further away. Chapters: 0:00 $1.1 million super at 61 and a $5,000 a month budget 0:47 Accessing super at 61: tax-free account-based pension 1:26 Minimum pension drawdown and a 5.5% withdrawal rate 2:08 Bridging the gap to Age Pension age 67 3:26 How long $1.1 million lasts without the Age Pension 4:03 Age Pension assets test and part pension from 73 5:21 Investment returns, sequence risk and market crashes 6:44 Couples, renters and inflation 7:23 How to make your super last longer 7:45 Can $1.1 million fund $60,000 a year? Summary Check out the channel's playlists for more videos on retirement, tax, investing, super, and more. Retirement in Australia →    • Retirement in Australia   Tax & EOFY →    • Tax & EOFY   Superannuation →    • Superannuation   Investing & Wealth Building →    • Investing & Wealth Building   Salary & Cost of Living →    • Salary & Cost of Living   Legal Disclaimer: This video is general information only and does not consider your objectives, financial situation or needs. Projections use assumed returns and inflation and are not guarantees. Consider seeking advice from a licensed financial adviser before making decisions about your super or retirement. 💬 Creator’s Note: Each video on this channel takes a lot of time to write, narrate, and animate with care. Yes, I use AI tools to help with voiceovers and visuals, but every message, script, and idea is crafted with intention and love, so you can understand money clearly and feel empowered to change your life. Thank you for being part of this project. 💛 #superannuation #retirementaustralia #agepension