Australians are living longer and healthier lives than ever before, and the average retirement length has increased accordingly. In fact, many people now plan for a 20-30 year retirement.
The secret to planning for a healthy income throughout this period is to have a clear picture of how much you’ll need, and MLC’s Super Calculator is a great place to start.
Simply enter your current investments and super balance(s) to see how you’re tracking towards your retirement goals. Best of all, you can see how the decisions you make now can impact your retirement income.
If there’s a gap between how you’re tracking and what you’ll eventually need, a financial adviser can help. They can show you some smart strategies to make a big difference to your financial future, and help you make the most of your money while you’re still working.
Take a look at the transition to retirement case studies below to see how the strategies might work for you. No matter how close you are to retirement, it’s never too late, or too early, to make a difference.