Today we're talking about spending in retirement, covering two topics - the ways people phase their spending over retired years and how much on average people can afford to spend each year.
That was a great session. Thank you. Can we use the retirement illustrator calculator? I just tried but it appears that only financial planners can do that.
That was a great session. Thank you. Can we use the retirement illustrator calculator? I just tried but it appears that only financial planners can do that.
Hi Alexandrea, no, that calculator isn't available for consumers, but here is a link to Challenger’s “Retire with confidence’ tool" - https://www.challenger.com.au/personal/retire-with-confidence/home
here's what it does:
- Challenger’s Retire with confidence tool is essentially a three step guide to help you estimate:
++ how long your desired retirement income might last you,
++ the amount of Age Pension support you may be eligible for,
++ the impact of adding some inflation linked lifetime income stream to your retirement portfolio.
The tool is designed for use by people 60 to 80 years old.
Cheers Bec Xx
Thank you Bec
Hi
Is there a table for how much you will need for retiring at 60, I could think of nothing worse than to still be working at 67