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| How much is enough?
Australians can expect to live, on average, 20 years in retirement. Of course this depends on when you retire and what is your definition of retirement. Regardless of what it means to you, being comfortable in retirement is what we all strive to achieve.
No matter your situation, making the most of what you have is the first step to a happy and balanced life. But when there’s so much to consider, where do you start? YOURLifeChoices has the information you need to make those important decisions.
Estimate your pension payment
Simply input your personal and financial circumstances to find out how a change in your circumstances could affect your pension payments, or whether you would be better off by switching payments.
Get to grips with successful budgeting
Budgeting your retirement income can be a weekly, or even a daily occurrence if you’re trying to make the most of what you have. As tiresome as this may be, a good budget planner can help you stay on track.
Make the most of your savings
You may not think that a quarter of a per cent could make that much of difference on your savings, but every cent counts.
Compare retirement village living costs
Making the decision to move to a retirement village often comes down to how much it will cost and whether you’re better off staying in your own home. Compare which option makes the most financial sense.
Calculate your compound interest
The longer you leave your money in a savings account or investment, the more you make, thanks to compound interest, or the interest you earn on interest. But by just how much can compound interest grow your initial investment?
Reverse mortgage repayments
More and more Australians are looking to release the capital in their homes to fund their retirements. Sound, independent financial and legal advice should be sought before entering any agreement, but that doesn’t mean you can’t find out how much a reverse mortgage will cost.
How much does it cost to downsize?
If you’ve lived in your home for many years and have now decided it’s time to move to a smaller property, you may be surprised at just what costs are involved. Calculate all your potential costs of relocating.
Will your money last?
Depending on how long you live in retirement, you may or may not have enough money to last a lifetime. Find out how much you need to live a comfortable or modest lifestyle and how long your money will last.
How long will I live?
If only you knew the answer to this question, how much easier life would be. While no calculator can accurately predict how long you have left to live, it can help you determine your life expectancy based on certain key factors.
How much is enough?
Investing wisely can help you maximise the length of time your retirement funding lasts and there are many calculators which can give you a guide to how much is enough.
Craig Hall explains how to calculate how much you need for retirement.
Drew was shocked to learn that he is only expected to live until just 68. ...
A useful calculator is one which helps you determine 'how much will I need?'
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