Hands up if you know what fees your super fund charges? No idea? You’re not alone. Most super fund members are aware that being in a fund with superior investment performance will mean a bigger retirement balance. One of the key findings of the Productivity Commission report on super was the negative effect being in a ... Read more
Retirement Calculators and Reckoners
In this section you can discover some of the calculators and reckoners that SuperGuide have developed to make superannuation and retirement planning easier to understand.
We also show you how to use some of the other retirement calculators available, review how reliable they are, and give you tips on how to choose one the right one for you.
Set out below are all SuperGuide articles that relate to Retirement Calculators and Reckoners.
Falling behind with your super? How your super balance compares
Everyone likes to know how their financial position compares to others of the same age. It’s no different when it comes to your super account. But how can you find out how you compare with your peers and whether you are on track – or behind the pack? To make things easy, SuperGuide has pulled together the latest ... Read more
Age Pension calculator: How much could you be eligible for?
Welcome to the SuperGuide Age Pension calculator. Using the calculator is easy. Enter your details in the calculator below (in the yellow blocks) and you will see an estimate of amount of Age Pension you may be eligible for. You can skip any question that doesn't apply to you. Help information is available on ... Read more
Taking your super early due to ill health? 7 tips to help
Nobody expects to become sick. Even fewer of us think declining health will see us leaving employment earlier than we want, but in fact it’s quite common. In 2016-17, personal health or physical ability was the main reason 21% of older workers decided to retire, according to Australian Bureau of Statistics ... Read more
How inflation affects your retirement income forecast
With the annual inflation rate tamely cruising along at only 1.6% (June quarter 2019), movements in the official Consumer Price Index (CPI) haven’t really been a front-of-mind issue for most of us. But that doesn’t mean you can ignore how inflation – even at a pretty low rate – will affect your post-work standard of ... Read more
How to plan your spending through the 3 stages of retirement
Did you know that most people’s retirement years are split into three stages and each one has a different level of expenditure? Understanding your retirement years When it comes to planning a successful retirement, obviously having enough money to support yourself is important. But another key piece of information is ... Read more
Retirement age calculator: When can you access your super or the Age Pension?
Although there is no ‘retirement age’ in Australia, there are two ages that are important to know for planning your retirement: Preservation age: This is the age when you can access your super funds provided you have also met a condition of release (such as retiring or turning 65). Age Pension age: This is ... Read more
How to select a retirement income calculator
Anyone who’s ever spent a few minutes popping numbers into their super fund’s online retirement calculator to find out if their retirement savings are on track knows it’s a confusing process. Calculators ask lots of questions and produce some great charts, but they’re only as good as the information you put into them, ... Read more
How reliable are retirement income calculators?
Nowadays you can expect just about every super fund website to provide an online retirement calculator, which can help members track how much money they are likely to have in their super account at retirement, and how long these retirement savings will last. If the calculator’s figures look good, most super fund ... Read more
How much super do I need to retire?
No doubt you have heard people say you need a million dollars (or some other nice round figure) in superannuation before you can afford to retire. Often they are the same people trying to sell you investment products or advice. Don’t pay attention to them, because there is no magic number. The amount of super YOU need ... Read more
Super to income Reckoner
SuperGuide’s Super to income Reckoner can help you quickly and simply understand approximately how much retirement income your super savings might be able to generate. The figures used in the reckoner have been sourced from the MoneySmart Retirement Planner, a powerful tool that we highly recommend you try for ... Read more
Income from super Reckoner
SuperGuide’s Income from super Reckoner can help you quickly and simply understand the approximate super savings you need to fund your desired retirement income. The figures used in the reckoner have been sourced from the MoneySmart Retirement Planner, a powerful tool that we highly recommend you try for yourself. ... Read more
How much super do I need to retire on $60,000 a year?
It’s fair to assume that the average Australian might hope to live comfortably, if not lavishly, in retirement. The widely-reported ASFA Retirement standard suggests couples can enjoy a ‘comfortable lifestyle’ on just over $60,000 a year. It stands to reason then that a single person should be able to live more than ... Read more
How much super do I need to retire on $80,000 a year?
So, you’ve done some preliminary sums and think you will need around $80,000 a year to live well in retirement. The ASFA Retirement standard suggests couples can enjoy a ‘comfortable lifestyle’ on around $60,000 a year and singles on about $43,000 a year. By this yardstick, $80,000 a year should support a more than ... Read more
How much super do I need to retire on $100,000 a year?
If you have always earned a high income and enjoyed the lifestyle that comes with it, chances are you want to continue living in the style to which you have become accustomed once you retire. The widely-reported ASFA Retirement standard suggests couples can enjoy a ‘comfortable lifestyle’ on just over $60,000 a year ... Read more