Whether you’re approaching retirement age or not it doesn’t hurt to take a look in to the future and consider how your finances might look when you finally retire.
The Superannuation Calculator from ASIC’s MoneySmart Website can help you estimate:
- How much your superannuation balance might grow by retirement age.
- How the fees that your super fund is charging you will impact your final payout. It might encourage you to seek out a lower cost Super fund.
By experimenting with different contribution rates, fee rates and even retirement ages, you can easily see what impact any change can have on your likely future nest egg.