Retirement Income Calculator with Expense Increase

Disclaimer: This calculator provides estimates based on the information you provide. It is for informational purposes only and should not be considered financial advice. Pension rules and tax laws are complex and subject to change. Please consult a financial advisor or relevant government agencies for personalized guidance.

Basic Information

Enter your basic retirement information to get started.

Country:
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Select your country to apply the appropriate pension rules.

Marital Status:
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Select your marital status as it affects pension and tax calculations.

Initial Savings ($):
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The total amount of money you have saved for retirement at the beginning.

Retirement Starting Age:
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The age at which you plan to retire and start withdrawing from your savings.

Estimated Life Span (years):
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The number of years you expect to live during retirement.

Income and Expenses

Provide details about your expected income sources and expenses during retirement.

Estimated Annual Pension Amount ($):
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The yearly amount you expect to receive from your pension.

Additional Annual Income ($):
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Any other income sources during retirement (e.g., rental income, part-time work).

Estimated Annual Expenses ($):
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Your expected yearly living expenses during retirement.

Estimated Annual Increase in Pension Amount (%):
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The expected annual percentage increase in your pension (e.g., cost-of-living adjustments).

Australia-Specific Information

Provide additional information required for Australian pension calculations.

Homeowner Status:
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Indicate whether you own your home, as it affects the assets test.

Financial Assumptions

Set the assumptions for inflation and investment returns.

Estimated Inflation Rate (%):
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The expected average annual inflation rate over your retirement period.

Expected Annual Expense Increase (%):
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The expected percentage by which your annual expenses will increase each year.

Estimated Interest Earned on Savings (%):
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The average annual return you expect to earn on your investments.

Investment Return Volatility (%):
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The expected fluctuation in your investment returns, representing market volatility.

Withdrawal Strategy

The calculator uses the Fixed Percentage (e.g., 4% Rule) withdrawal strategy.

Withdrawal Percentage (%):
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The initial percentage of savings you plan to withdraw annually.

Savings Balance Over Time

This chart shows how your savings balance changes over time.

Net Income Over Time

This chart displays your net income and inflation-adjusted net income over time.

Disclaimer: The results provided are estimates and do not guarantee financial outcomes. Pension rules and tax laws are complex and subject to change. Always consult with a qualified financial professional or relevant government agencies before making financial decisions.