Maintaining your lifestyle – Retirement income in plain English

Posted by: In: 24 Jul 2013 Comments: 0

What is Retirement Income?

During your working life you receive regular income in the form of a salary or business income. In retirement, this regular income stops, so you need to draw on your savings to meet your lifestyle costs. You set up your savings so you still receive regular payments, just like a salary. This is called a ‘retirement income stream’.

The type of income stream you can start at retirement depends on whether your savings are inside or outside of super.

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