How much should you have when you retire?
Wealth
Saving for retirement
Planning for your retirement - Calculating whether you are on track with your financial goals can be a tricky task - we have a set calculation to help.
How much should I have when I retire?
A capital sum of 17 times your final annual pre-tax salary will give you an income equal to about 75% of your salary at a retirement age of 65.
How do I know if I am on track?
|
After working for |
Saved a capital sum of |
|
10 years |
2x your annual salary |
|
20 years |
5x your annual salary |
|
30 years |
10x your annual salary |
|
40 years |
17x your annual salary |
What percentage of my income should I invest?
|
If you start at age… |
And achieve CPI + 5% |
|
25 |
15% |
|
30 |
22% |
|
35 |
30% |
|
40 |
41% |
|
45 |
58% |
Universal Investment Principles
Start with a plan.
Start as soon as you can.
The importance of real returns.
Avoid switching and timing the market.
A well diversified portfolio gives protection against risk and volatility.