Our retirement calculator can provide an estimate of your retirement balance with just a few details. Whether you’re looking at $200,000, $500,000 or a $1 million in super, knowing how much you'll have in retirement helps you think about the future and plan-ahead. It’s an easy and effective way to predict your future superannuation balance and look at different ways to boost it. If you’re wondering what all those contributions will add up to, our retirement calculator can help. You know you're putting 10.5% of your salary away for a future date, but what does that actually mean, and will you have enough for the retirement you want? Superannuation can feel very abstract when you’re in the middle of your working life. If you currently have additional income, you may want to transfer that money to your superannuation account and take advantage of the tax* benefits that super provides - both now and in retirement.Are you on track for a comfortable retirement? This calculator assumes you'll fund your retirement solely from your super. × Save & close How much money vs how much super? This calculator has rounded up all figures to the nearest dollar. While ASFA updates their Modest and Comfortable living standard figures on a quarterly basis, in this calculator, figures are updated annually, with current figures from the "ASFA Retirement Standard March quarter 2022".These include items such as updates to a kitchen or bathroom, eating out from time to time, entertaining family or friends at home, private health insurance at the top rate, an economy overseas holiday, alcohol, tobacco and buying gifts etc. The difference between the comfortable and modest retirement lifestyle budgets mainly relates to the extra items included in the comfortable budget.The figures assume that the retiree(s) own their own home outright and are relatively healthy. It is updated annually to reflect inflation and provides detailed budgets of what singles and couples would need to spend to support their chosen lifestyle. The ASFA Retirement Standard benchmarks the annual budget needed by Australians to fund either a comfortable or modest standard of living in the post-work years. The "retirement standard" figures provided are current as at the March quarter 2022 and are based on the ASFA Retirement Standard.If you do live longer than the estimated age then you may require a higher super balance when you retire. You may in fact live longer or shorter than this prediction. The projected "Super balance needed at retirement" and "This is estimated to last for" on the final step of this calculator are estimates based on life expectancy according to the Australian Life Tables.Life expectancy is based on the Australian Life Tables which are produced by the Australian Government Actuary.An investment fee of 0.58% is applied in this calculator.Investment returns can be adjusted above. We assume that your super is invested in a balanced option.This means a total assumed inflation rate of 3% is allowed for. In addition, a further annual increase of 1% is included to take into account the cost of meeting increases in community living standards. All amounts are in today's dollars and are adjusted for an assumed annual inflation rate of 2%.You must be aged between 16 and 67 to use this calculator.This calculator uses the following settings which can be adjusted below: You should consider your own situation, objectives and needs, and obtain specific, individual advice from a financial services licensee before making any investment decisions. You should not rely upon this tool for the purposes of making a financial decision. Some factors that may affect your retirement outcomes may not have been taken into account in this calculator. Your retirement outcome will be affected by many factors including investment returns, fees and regulatory changes. While we have made every effort to ensure all assumptions are reasonable, you should review them to match your own expectations/circumstances and not take them as the most appropriate assumption in all cases.
It contains general information and does not take account of your specific objectives, financial situation or needs or personal circumstances. This calculator is current at the date of publication and is subject to change. Sustainable Responsible Investment (SRI) balanced.
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