The question this answers: I want to live on $X a year - what balance is that, and am I on track? Pick the income you want and it works backwards to the number, with the Age Pension included, because for most people the pension does a lot of the work.
A projection only, using assumed returns. Markets will vary - general information, not personal advice.
Everything is in today's dollars, so you can read the numbers the way you think about money now. We add your employer's 12 per cent and any extra you put in, grow the balance until you retire, then draw your target income each year. Where you qualify, the Age Pension is paid first and your super only tops up the difference. The salary is held flat in today's dollars, and a super pension is tax-free once you are 60. For a couple we ask for each of you separately, because the Age Pension does: nothing is payable until the older of you turns 67, and the younger partner's untouched super is exempt from the means test until they get there. Household contributions are split evenly between you.
Enter your age and super balance above to see the number you are aiming at.
Want the year-by-year detail?
This tool answers one question: the balance your target income needs, and whether you are on track. To walk through retirement year by year - each partner's Age Pension as it phases in, holidays and one-off spending, a slower second phase - use the Retirement Calculator. Or download this projection as Excel below.
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A simplified projection in today's dollars (real return = your return minus inflation). Your drawdown is taken from super each year and the balance grows at the net real return, held constant. It is super only and excludes the Age Pension, fees beyond your net return, tax, market volatility, changes to legislation and individual circumstances. General information only - not personal advice. Navarino Wealth Pty Ltd.
Make it personal
This tool shows the general picture - a short chat shows what it means for you. The first meeting is complimentary and no-obligation.
Please read this before you act on any number above.
This superannuation calculator is not intended to be relied on for the purpose of making a decision
in relation to a financial product, and you should consider obtaining advice from a
financial services licensee before making any financial decisions. The assumptions it
uses, and its limitations, are set out on this page - please read them, because they
change the answer. Separately, any general advice here has been prepared without taking
account of your objectives, financial situation or needs; consider whether it is
appropriate for you before acting on it.
