Money Over 50

003 Drive a $15,000 car to draw an extra $717,000 in retirement

January 15, 2019

Michael and Dallas discuss a strategy whereby driving a lower-cost car during the last 15 years of your working life, and contributing what you would have spent in car repayments to your superannuation fund, can allow you draw an additional $30,000 pa. each year for the first 24 years of your retirement. Resulting in extra income drawn in retirement. How many great memories could be created with $717,000 of extra dollars to travel with? VS The fading memory of the “new car smell”.