Retirement Calculator – Do the maths!

Do you ever think to yourself – How much money do I need to retire? The best way to find out how much money is needed for retirement is by using a retirement calculator to help with your retirement planning.

The use of a retirement calculator will not only predict how much money you will have upon retirement, it will also help you understand what retirement plan you will need to follow on the lead up to your retirement.

This article is to be used as a guide to retirement calculators, explaining the benefits of using one and where to find the best retirement calculators in Australia for your planning needs.

This article is designed for people who are looking for;

• Retirement Calculators
• Retirement Planning
• Retirement Information

Retirement Planning

Retirement Planning is becoming more common, as people realise that to live is to spend, meaning we will need a lot of money for our retirement should we wish to live comfortably and enjoy our retirement from many years of working. The concept of retirement planning is defined by the understanding that come age 55 in Australia, we are able to retire and withdraw our superannuation in a lump sum or via monthly payments – thus we need to ensure the money we have saved will not only meet our lifestyle needs, but also last for the remaining years we have to live.

Simple Retirement Calculator

With so many retirement calculators on the market, which retirement calculator is right for you? Well, after looking around at many different calculators we have narrowed it down to only a small handfull that will help you find all the information you require for your retirement planning. Your retirement calculator should be easy to use, never cost you anything and give you the information you require to understand how much money is needed for retirement.

Retirement Savings Calculators

Ok now for the good bits, lets start looking at the different retirement calculators available.

1. The best retirement calculator I could find was at Vangaurd; HERE.
2. The FIDO Government site on Superannuation and Retirement planning, HERE.

The above three calculators are all Free Retirement Calculators and are designed to help people with finding Australian Retirement information.

Retirement

To conclude this article, I would like to suggest a few top notch tips for people intending on retiring and trying to maximise their retirement money;

• Delay your retirement, you will be surprised how much more money you can save and make when you add 3-5 years onto your working life.
• Do not give up full time work straight away, transition into part time work for retirement to keep up social networking it is amazing how boring retirement can get after only a few months!
• Consider an age pension from the Australian government. You can chase this up with Centrelink.
  
• Ensure you keep your super invested for as long as possible, that way your money will earn more growth and income while you a retired. This can be done by drawing monthly from the super fund or by limiting your withdrawels as to avoid lump sum withdrawels.
• Located your lost super

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