Retirement needs calculator
How much do I need to retire?
As a rule of thumb, use this:
|Age/Lifestyle||Single yearly income||Couple yearly income|
|Comfortable lifestyle at age 65||$43,200||$60,843|
|Comfortable lifestyle over age 85||$40,953||$56,735|
Source: ASFA Retirement Standards September quarter 2018.
This calculator provides a prediction based on the most common lifestyle factors, so if you’re unsure about your future costs, it’s wise to over-estimate your potential expenses, that way, you have a bit of a buffer in case things don’t quite go to plan.
If you are looking for a super projection calculator click here.
Purpose and Assumptions
This calculator generates information illustrating how much money you could need in retirement and how this could be influenced by salary sacrifice or voluntary contributions. This is based on certain assumptions. Those assumptions can be found here.
Your retirement outcome will be affected by many things including the amount of contributions you make, fees, investment returns and regulatory changes. Some factors that may affect your retirement outcomes may not have been taken into account.
This is a Model, not a Prediction
The tool is not intended to be relied upon for the purposes of making a financial decision. Consider a fund’s PDS and your objectives, financial situation and needs, which are not accounted for in this information before making an investment decision. You are responsible for your own investment decisions and should obtain specific, individual advice from a financial services licensee before making any financial decisions.