Retiring at 60 isn’t determined by your super balance alone.
The key question is whether your assets can generate enough income to support the lifestyle you want for the rest of your retirement.
Some of the most important factors include:
✓ Your current super balance
✓ How much income you’ll need each year
✓ Whether you own your home
✓ Other investments and assets
✓ How your super is invested
✓ How long your money may need to last
Estimate what annual retirement income your investable assets may support through to age 95.
Estimated Income From Your Investable Assets
$0 p.a.
Your Desired Income
$70,000 p.a.
Difference Compared With Your Desired Income
$0 p.a.
Years Money Needs to Last
35 years
This calculator uses simplified assumptions based on your selected investment strategy. Inflation is factored in at 2.5% p.a. and assets are assumed to last until age 95. It does not account for tax, Age Pension, fees, investment volatility, future contributions or changes in personal circumstances. It is general information only.
✓ Consider increasing your retirement savings while you’re still working
✓ Review whether your investment strategy is appropriate
✓ Estimate how much longer you may need to work
✓ Consider whether a lower retirement income is realistic
✓ Develop a retirement strategy to close the gap
✓ Continue reviewing your retirement strategy regularly
✓ Make sure your investments remain aligned with your goals
✓ Consider whether you could retire earlier than expected
✓ Review tax effective retirement income strategies
✓ Plan how and when you’ll access your super
This calculator provides a useful starting point, but it doesn’t consider factors such as tax, Age Pension entitlements, investment risk, future contributions, inflation, or changing spending needs throughout retirement.
A personalised retirement plan can help answer the most important question:
The more income you need each year, the larger the investment portfolio you’ll generally require.
Your investment strategy can have a significant impact on how much income your portfolio may be able to generate over a retirement that could last 30 years or more.
Depending on your assets and income, the Age Pension may contribute to your retirement income and reduce the amount you need to fund yourself.
The way you draw income from super, investments and pensions can affect how much after tax income you receive.
Retirement can last several decades. Your income needs are likely to increase over time as the cost of living rises.
Many Australians retiring at 60 may need their savings to last until their 90s, making longevity one of the biggest retirement risks.
Whether your retirement plan appears to be on track or there is still a gap to close, there are often practical steps you can take to improve your long term retirement outlook. Small changes made consistently over time can make a significant difference.
✓ Increase your super contributions where appropriate
✓ Review your investment strategy
✓ Reduce unnecessary fees
✓ Review your insurance cover
✓ Get regular financial advice
Let us take the stress and hassle out of managing your financial goals so you can focus on the important stuff.
