Planning your path TO a great retirement is important.
But planning for your time IN retirement is often overlooked. This is logical, as both of these things seem so far away. But because our time in retirement is SO much further away, it falls by the wayside with little opposition.
As always, we aren’t financial advisers and we don’t give financial advice. We help you with one thing – reviewing your super. So let’s start 🙂
When Will The Candles Go Out?
Will you make it to 102?
Sure, when you work with one of our partner financial advisers or use one of the retirement planning calculators, you have to put in all these fixed assumptions.
Here are just SOME of the assumptions listed on the moneysmart.gov.au website…
The results from this calculator are based on the limited information that you have provided and assumptions made about the future. The amounts projected are estimates only and are not guaranteed.
This calculator cannot predict your final superannuation benefit or level of retirement income with certainty because this will depend on your personal circumstances, unexpected life events, the age pension paid, investment earnings, tax and inflation.
This calculator assumes that all assumptions remain steady and predictable over time. These assumptions are essential so the calculator can show the effect of things you may be able to control, such as choosing a different investment option.
Consider updating the projections provided by this model regularly, particularly if your circumstances have changed.
Some of the assumptions can be changed to reflect your personal circumstances.
The calculator works for people aged up to 80 years. A date of birth more than 80 years before today’s date will show as an ‘invalid date’.
Do not rely solely on this calculator to make decisions about your retirement. There may be other factors to take into account. Consider your own needs, financial situation and investment objectives. You may wish to get advice from a licensed financial adviser.
https://moneysmart.gov.au/, info pulled on 17 Feb 2022
“Average” Life Expectancy
One of those assumptions is age of death. And that’s based upon the average life expectancy for men and women in Australia, based upon your year of birth.
Average. Not yours, though…
Because at the end of the day, none of us can predict this!
While NOTHING about your investments can be guaranteed (i.e. we can’t predict markets, we can’t guarantee future performance, we can’t guarantee future costs, insurance premiums, etc.)
The BIGGEST question mark is how long are we going to be here?
Shouldn’t We Be Prepared For The Best And The Worst?
We believe that some percentage of today’s work should go to tomorrow’s basking in the sun on the beach and doing whatever the bloody hell you want to do for as long as possible.
So, the 10% super guarantee is about right 🙂 And doing your best to accumulate in your super across a lifetime is what we care about.
When you review your super, you get a clear picture of everything and then we connect you with a licenced financial adviser. It’s as simple as that.
You get to see just how good you can make your retirement.
Because even though we can predict it, we would all love to be the woman celebrating 102 years, still unable to blow out the candles, and laughing merrily.