Do you have enough for your retirement?
There are many people who are over 65 years old and are still in the workforce. Some enjoy their jobs and are happy to keep working but others simply don’t have enough money to comfortably retire. If you are approaching retirement, you may be interested to know how much money your retirement will cost, and if you won’t have enough, what you can do to meet your objectives.
So how much do you need in retirement? The ASFA Retirement Standard provides an approximation of how much you need to live on when you retire depending on whether you would like a comfortable or modest lifestyle and whether you are single or a couple. To check out these balances visit www.ngssuper.com.au/how-muchsuper- is-enough/
Secondly, it is useful to look at NGS Super’s Future Super Calculator. This shows how your super is growing and your approximate balance at retirement if you continue to earn your current income. If you won’t have enough, you can give your super a boost by making extra voluntary contributions to your super on an ongoing basis which can really add up over time. NGS Super’s Extra Contributions Calculator demonstrates how adding extra to your super can really impact your final balance at retirement.
Need some extra guidance? Financial planning can help!
We understand that planning for your retirement might seem daunting but seeing a financial planner can make a big difference. NGS Financial Planning can assist you to determine your goals and make a plan that suits your individual needs.
As an industry super fund, we do not pay commissions to anyone and our financial planners operate on a fee-for-service basis. To find out more about this service or to make an appointment, please call 1300 133 177.
This is general information only. Before making a financial decision, consider seeking professional advice. Issued by NGS Super Pty Limited ABN 46 003 491 487 AFSL No 233 154 the trustee of NGS Super ABN 73 549 180 515. NGS Financial Planning Pty Ltd ABN 89 134 620 518 is a corporate authorised representative #394909 of Mercer Investment Nominees Limited ABN 79 004 717 533 AFSL No 235906.