Retirement Planner
Plan your retirement income and see how long your super and other investments will last. This calculator helps you estimate your retirement needs based on your current savings, expected returns, and desired retirement lifestyle.
Retirement Plan Summary
Your Retirement Outlook
Years Until Retirement
20
Retirement Duration
20
Total Savings at Retirement
$0
Savings Will Last Until
Age 85
Annual Retirement Income
| Source | Amount |
|---|---|
| Super Withdrawals | $0 |
| Other Savings Withdrawals | $0 |
| Government Pension | $0 |
| Other Income | $0 |
| Total Annual Income | $0 |
About the Retirement Planner
This retirement planner helps you estimate how long your savings will last during retirement based on your current financial situation, expected returns, and desired retirement lifestyle.
How Retirement Planning Works
Retirement planning involves several key steps:
- Determine your retirement goals: When do you want to retire and what lifestyle do you want?
- Assess your current situation: What savings and investments do you currently have?
- Project future savings: How much will your savings grow before retirement?
- Estimate retirement needs: How much income will you need during retirement?
- Calculate sustainability: How long will your savings last based on withdrawals?
Key Factors in Retirement Planning
Several factors significantly impact your retirement outcomes:
- Time horizon: The more years you have until retirement, the more your savings can grow.
- Contribution rates: Regular contributions to super and other investments build your retirement nest egg.
- Investment returns: Higher returns grow your savings faster but often come with higher risk.
- Inflation: Over time, inflation reduces purchasing power, so your income needs will increase.
- Retirement duration: Longer retirements require more savings or lower withdrawal rates.
Improving Your Retirement Outlook
If your retirement outlook isn't as strong as you'd like, consider these strategies:
- Increase your super contributions (salary sacrifice or personal contributions)
- Extend your working years (retire later)
- Reduce your expected retirement income needs
- Review your investment strategy for better returns (with appropriate risk)
- Consider downsizing your home or other assets in retirement
- Explore part-time work during retirement