Updated both the help screen and the investment returns to match lastest research.
What's changed?
1.08 - updated to portfolio returns and help screen
1.07 - updates to cash returns and help screen
1.06 - updates to help screen
1.05 - legislative updates
1.04 - minor changes to help/info
1.03 - returns on higher profiles lower because updated to latest lower long-term return outlook and also removed imputation gross up from them as changed method to fix franking credit calculation bug
1.02 - minor graphical upgrade
1.01 - minor change - changed min age to 60.
1.00 - initial release
Many questions about Retirement planning?
How long will my Pension Last?
Should I reduce my Pension withdrawals? Should I increase them?
How much will I need in my Pension? Will I have enough the way I am going?
How do Investment Return and different Risk Profiles impact my Pension?
Just to explain
- while you are working in Australia you are contributing to your "Superannuation Fund". When people retire in Australia they typically rollover their "Superannuation Fund" to a "Pension Fund". It is this "Pension Fund" that this calculator is for. Some people might refer to Superannuation as being the "Accumulation phase" and Pensions as being "Decumulation phase". You may have for example an SMSF (Self-Managed Superannuation Fund) with part benefits in Accumulation phase and part in Pension/Decumulation phase.
- this calculator is only for Australians living in Australia.
Aussie FREE Retirement Genie: Pension Simulator (calculator) can help you!
- It’s FREE!
- EASY TO USE! - Spinners for a few variables and then 3 “AUTOMATIC – SOLVER” buttons – that’s all!
- EASY TO UNDERSTAND! – uses Graphs to show what is happening.
- FAST! – get quick results using the AUTOMATIC SOLVERS.
- EDUCATIONAL! - Learn about Pension Risk Profiles while using – simple Spinner changes Return and it tells you what investments (asset classes not specific) make up that profile then find out how they affect Pension longevity with different withdrawal rates….in seconds.
- FUN FOR ALL THE FAMILY! - …..um…err….maybe not actually…
SOLVERS:
- (1) Pension BALANCE SOLVER – will aid in calculating what BALANCE is needed to last given the other variables you have chosen.
- (2) Pension RETURN/RISK PROFILE SOLVER – will help calculate the RETURN needed to last given the other variables you have chosen.
- (3) Pension EXPENSES SOLVER – will help calculate how much can be WITHDRAWN given the other variables you have chosen.
Other
- Discounts automatically for inflation – converts all values back to current values from future values.
- If this is popular and well received enough will upgrade this app to include other features (this App is only one part of a larger application I made in Visual Basic).
NO ADVICE WARNING
This app is no substitute for Financial Planning advice and to be clear no advice has been provided in any way at all. DreamingLightApps Pty Ltd is not licensed to provide financial advice. RetirementGenie has not taken into account any particular persons objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain financial advice specific to their situation before making any financial investment or insurance decision.
