Welcome to the Retirement Income Simulator.
Enter your details using the sliders and buttons or click on numbers to input figures manually. Words which are underlined have further information available about them - click to view definitions.
Based on what you've told us, we've started by estimating your
future take-home pay, in today's dollars, in the chart
to the left.
below.
We've taken out the effects of price inflation.
When you retire, you may be eligible to receive some NZ Super. The amounts shown in the chart are based on
current legislation and simulator assumptions (see More Information for details).
You will also draw a retirement income from your retirement savings.
It's level because we've taken out the effects of inflation.
Based on what we know so far and some assumptions, it looks like your retirement savings will last
until age (as indicated by the highlighted bar).
Based on what we know so far and some assumptions, it looks like your retirement savings will last
past age 105.
This is based on assumptions that you are either already retired or that you will retire at age
, on a retirement income of
$ a year.
This is based on assumptions that you will retire at age ,
on a retirement income of $ a year.
After this tutorial, you'll be able to adjust your retirement income and age by dragging the
marker on the chart to your desired values.
If you were to retire later, for example at age ,
your retirement savings would last longer.
If you were to retire earlier, for example at age ,
your retirement savings would run out sooner.
But if you wanted a higher retirement income - say $
a year - your retirement savings would run out more quickly.
Or, if you wanted a higher retirement income - say $
a year - your retirement savings would run out even sooner.
To help you work out how long you should plan for, the bottom of the chart shows your likelihood of reaching each
age based on New Zealand Life Tables 2017-2019.
For example, one person in five of your current age and sex will
live until the age marked by the 20% point, and only one person in 20 will
reach the 5% point. Looking at the point your retirement savings drawdown runs
out can give you an idea of the chance your retirement savings will run out during
your lifetime.
These results are based on the data you have provided and other reasonable assumptions - you can adjust these
inputs in the simulator.
There are many more useful features in the simulator, which you'll be able to work out as you go.
Now click Go to launch the simulator!
