toretg.blogg.se - Asfa retirement standard calculator

The results are based on default assumptions that are built into this calculator. It is not a recommendation or opinion about superannuation or any other product and is not intended to replace personal financial advice.īefore making a purchase decision in relation to a financial product, consider obtaining advice from a qualified financial services advisor and read the Product Disclosure Statement. It is not to be relied upon for the purposes of making a decision in relation to a financial product. 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.This superannuation calculator is designed to provide you with an estimate of whether your superannuation contributions will meet your retirement income objectives. 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.