We would recommend using our budgeting tool to give you some indication on ensuring you will have enough money for the day you retire. However, planning for your retirement is a complex process. Planning for retirement entails many non-monetary based decisions. Answering the following questions would be a good place to start: 1. What type of lifestyle do I want to live in retirement? 2. How much will this lifestyle cost per year? 3. How much do I currently have in my superannuation fund, and how much am I likely to have by retirement age? 4. Do I have more than one superannuation fund and should I consolidate them? 5. Is it worth putting more into superannuation now, but still staying under the reasonable threshold? 6. Will I have any large debts outstanding? (i.e. mortgage, car etc.) 7. Will I be helping pay off someone else’s expenses? (i.e. daughter going through University etc.) 8. Do I want to go on holidays periodically? 9. What other income sources will I have and how much will I earn from them? (ie investment property, owner of a business, shares etc.) Although it is possible to plan your retirement by yourself, we don’t recommend it. We suggest speaking to an adviser when it comes to something as important and complex as your retirement. An adviser will give you the clarity and peace of mind you need when making these critical life decisions.

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