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Do you have enough income for retirement?

Savings The savings you have already accumulated and earmarked for retirement.
Annual contributions The money you save every year for retirement, in constant dollars. When you save the money, you need to adjust that amount for inflation in future years. (For example, if you put in $9000 this year and anticipate inflation of 5% per year, you need to save $9,450 next year.)
Desired retirement income This is the annual income, in today's dollars, that you want to have available at retirement from your investments. As a rule of thumb, it should be at least 75% of your current income. However, this calculator doesn't take into account pension income (which hopefully will still be around when you retire) or superanuation, so if you expect income from those sources, reduce this figure accordingly.
Your current age
Your retirement age Usually 65 may be increasing in the future depending on policies
The age you expect to reach Check your life expectancy (How Australia compares) (Male 79 Female 84)
An estimate for the inflation rate Historically about 5%
An estimate for the investment return Historically up to 10% if you invest long-term in the stock market

Click the "Compute" button after entering all the values.



When you run this calculator, the balance in your retirement account (in current dollars) is displayed in the graph and the scrolling table. The blue area of the graph is the pre-retirement saving phase. The green area is the post-retirement withdrawal phase until the account runs out of money, in which case it turns red.

When the red bars and the negative numbers appear, you don't have enough money. Make one or more adjustments and click "Compute" again.

Your quality of life may need adjusting:

The global financial crisis after a prolonged period of steadily rising asset values has really shaken many of the baby boomer era.

disclaimer
Financial decisions should not be made based on these calculators. They are provided as is for educational purposes only.