Have you ever wondered if you will have enough money at retirement?
For some, retirement may not be too far away. But for others, time is still on your side and it is time to take ACTION before it is too late!
According to the ASFA website (www.superannuation.asn.au), a couple would need at least $800,000 in superannuation just to lead a modest lifestyle of $23,996/year and over $1.35Million if they want to be comfortable on $59,619/year (current as of June 2018). Some clients tell me that even the higher figure is not enough for them if they want to travel the world.
But don’t worry, there is an easy way to assess if you are on track. The AMP Super simulator is one of my favourite tools to use and I regularly encourage clients to use it too.
In less than 5 minutes, you can work out if you will be living the retirement that you have dreamed of OR …. well … the not-so-nice retirement.
Once the simulator generates your projected retirement balance, you can also play with some of the ‘levers’ to see how different factors can change the balance of your retirement. Some of these things include: salary sacrificing, member contributions, retiring earlier (or later), and changing your investment strategy or profile.
If you have plugged your figures into the super simulator and things aren’t looking too good … don’t worry! We offer free consultations for clients and are more than happy to do a complimentary review on your superannuation. We will be able to discuss strategies for you to get your retirement on track.
Call us on (07) 3806 4484 or email us at email@example.com to arrange for a free consultation (either via Skype or in person – location is no issue for us Hannans folk!)