How long will my super last me?
Have you ever wondered what your super is actually going to give you once you decide to stop working? When is it going to run out? Will there be any left for the kids? Here, we use the ASFA “Will My Super Savings Be Enough” calculator to show you how you can determine:
- When can I access my super?
- How much income will it give me?
- How long will it last?
Our calculator is great at anticipating that you might want to slow down a little at some point, or take work breaks, for whatever reason. To show this flexibility, we’ve incorporated a desire to work less in our 50’s, and see what impact this is going to have on our ability to accumulate enough passive income for later.
Here’s our scenario:
We’ve then assumed:
…and played around with some assumptions that you can tailor to your situation:
The result is a significant shortfall, and heavy reliance on the Age Pension being available when I hit 64…
Remember, we’re experts at finding tax savings to boost your bottom line, now and down the track!