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Will your retirement savings last long enough?
The chart below shows how the return on your savings can increase your long-term wealth.*
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40 |
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394 |
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788 |
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1,182 |
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1,577 |
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45 |
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576 |
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1,151 |
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1,727 |
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2,302 |
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50 |
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892 |
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1,784 |
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2,675 |
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3,567 |
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55 |
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1,546 |
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3,092 |
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4,638 |
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6,183 |
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60 |
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3,553 |
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7,106 |
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10,659 |
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14,211 |
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Total age 65 |
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250,000 |
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500,000 |
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750,000 |
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1,000,000 |
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These figures are based on a constant return of 8.00% p.a. gross less tax 33%, compounded annually. |
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For example, if you're 40 and want $250,000 as a retirement lump sum, you'll need to start contributing $394 each month. However if you're 45 you'll need to contribute $576 each month to earn that $250,000. Time makes a huge difference to the growth of an investment!
Regularly increasing the amount you contribute to your retirement fund is a smart way to increase the amount you'll have when you retire.
The chart below shows how the return on your savings can increase your long-term wealth.*
A copy of the Bank’s General Disclosure Statement, the Bank’s Disclosure Statement prepared under the Securities Markets Act 1988, and a Financial Adviser’s Disclosure Statement are available from a Financial Adviser, free of charge.
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