Super isn't something many young Australians get excited about. Retirement is a lifetime away and life is for living. But with the wonders of medical science keeping us all fit and healthy for longer, retiring with a big super pot will be like university with more money and no lectures. If you were retiring tomorrow, here are a couple of the big ticket items you could buy…
Bargain basement Spanish villa
The Australian economy has fared remarkably well during the global financial crisis. As a result, retirees with a wad of Aussie Dollars in their back pockets have unprecedented spending power overseas. Buying a property in Euros or British Pounds could be a lot cheaper in dollar terms than 5 or 10 years ago.
In countries that have suffered big housing market crashes, those savings could be even greater, with amazing bargains to be had. In Spain, for example, it’s common to see golf course villas with “make me an offer” rather than “for sale” signs.
Spanish property might not be too appealing if you’re looking to make a quick buck, but if you want to retire abroad, your Aussie Dollars will buy plenty of Rioja and tapas.
James Bond’s car
This is likely to be a tough sell to the wife, but if you can swing it, an Aston Martin DB5 would be one hell of a retirement toy. The iconic British sports car is synonymous with suave super spy James Bond, first appearing in Goldfinger back in 1964. You may also have spotted it in the climax to the latest Bond movie, Skyfall.
You’ll need either a pretty big super pot or a very understanding wife to land a DB5, as it would likely set you back around $500,000. If you’ve done really well and retired as a multi-millionaire, you could buy a limited edition DB5, complete with the original Bond gadgets like the one that went for auction in London for $4 million a few years back. If you prefer a modern twist on the classic Bond car, the Aston Martin DB5 V12 that featured in Casino Royale will come in a little cheaper, at around $200,000.
For the full range of Aston Martin’s used in the Bond franchise, take a look at this beautiful slide show on the Aston Martin website.
Swotting up on super
Before you can get your hands on that Spanish villa or dream car, you’ll need to make sure your super fund is up to the job. To help you get started, check out this guide on how to make contributions to your account.