It's hard to imagine how much you'll need for your retirement
Retirement on target?
With the cost of living going up each year, it’s hard to imagine how much you’ll need for your retirement.
But, research by the Association of Superannuation Funds of Australia (ASFA) suggests that if you’re aiming for a comfortable lifestyle in retirement you’ll need to save about $640,000 for a couple or $545,000 for a single person1. And, it would be even more if you want to enjoy some of the finer things in life.
So what will this amount afford you in retirement?
To find out, use the Bridges Retirement Lifestyle Calculator. See how you measure up and whether you’re on target to live the retirement you want.
What's the Bridges Retirement Lifestyle Calculator?
The Bridges Retirement Lifestyle Calculator is an online tool that shows you if your savings, super and investment strategy are on target to meet the retirement lifestyle you want. You can view and download your results and see how financial advice can help you achieve your retirement goals.
Step 1 - About you
Enter some information about yourself including your income and super balance. Don’t worry, we won’t keep or share any of your personal information.
Step 2 - Set your ideal lifestyle
Select the level of comfort you would like for your home, food, leisure, transport and health care.
This step includes an explanation of the different comfort levels and their associated goods or services. For instance, do you want to enjoy regular holidays? Do you want to update the kitchen or bathroom or your entire house? Eat out or entertain family and friends at home? How about private health insurance and maintaining a car?
Based on your selections, you’ll be placed on a lifestyle scale from low (modest) to high (comfortable plus). This will then be compared to the information you provided in step 1 - so you can see if you’re likely to have enough money when you retire to live your ideal retirement lifestyle.
Step 3 - View and download your results
View and download your personalised results including tips on how you could increase your retirement savings and how a financial planner can help.
Visit bridges.com.au/retirementlifestyle
Financial advice makes a difference
To discuss and understand what the results of the Bridges Retirement Lifestyle Calculator mean for you, make an appointment with a Bridges financial planner.
We have an established alliance with Bridges, to provide our customers with financial advice. In fact, Bridges has been helping Australians prepare for their retirement for over 30 years. A Bridges financial planner will develop a plan specifically for you; one that’s tailored to your needs and circumstances, to help you achieve your goals, both in the lead up to retirement and during retirement. To make an appointment with a Bridges financial planner, call 13 61 91. The initial consultation is complimentary and obligation free.
1Source: ASFA retirement standard.
Bridges Financial Services PTY Limited (Bridges) ABN 60 003 474 977. ASX Participant. AFSL 240837. Bridges is part of the IOOF group. This is general advice only and has been prepared without taking into account your particular objectives, financial situation and needs. Before making a decision based on this information, you should assess your own circumstances and consult a financial planner or seek taxation advice from a registered tax agent. In referring members to Bridges, SCU does not accept responsibility for any acts, omissions or advice provided by Bridges and its Authorised Representatives.
