Let's say you retired this month aged 55, and wanted an annual income stream of $80,000 indexed at 2.5%pa to last until age 88.
Then the required capital assuming net annual earnings of 5%pa net of tax would be $1.8 mill, therefore the factor to multiply your starting annual income would be 22.5. See below. (first year's income reads less than $80,000 only because start month is August.
Age Year ending Account balance Pension amount 1 55 30/6/2018 $1,808,366 $72,717 2 56 30/6/2019 $1,815,865 $82,000 3 57 30/6/2020 $1,821,642 $84,050 4 58 30/6/2021 $1,825,557 $86,151 5 59 30/6/2022 $1,827,464 $88,305 6 60 30/6/2023 $1,827,203 $90,512 7 61 30/6/2024 $1,824,611 $92,775 8 62 30/6/2025 $1,819,509 $95,094 9 63 30/6/2026 $1,811,713 $97,472 10 64 30/6/2027 $1,801,024 $99,909 11 65 30/6/2028 $1,787,234 $102,406 12 66 30/6/2029 $1,770,122 $104,966 13 67 30/6/2030 $1,749,454 $107,591 14 68 30/6/2031 $1,724,982 $110,280 15 69 30/6/2032 $1,696,445 $113,037 16 70 30/6/2033 $1,663,567 $115,863 17 71 30/6/2034 $1,626,056 $118,760 18 72 30/6/2035 $1,583,602 $121,729 19 73 30/6/2036 $1,535,880 $124,772 20 74 30/6/2037 $1,482,545 $127,892 21 75 30/6/2038 $1,423,232 $131,089 22 76 30/6/2039 $1,357,558 $134,366 23 77 30/6/2040 $1,285,115 $137,725 24 78 30/6/2041 $1,205,476 $141,168 25 79 30/6/2042 $1,118,188 $144,698 26 80 30/6/2043 $1,022,773 $148,315 27 81 30/6/2044 $918,726 $152,023 28 82 30/6/2045 $805,517 $155,824 29 83 30/6/2046 $682,584 $159,719 30 84 30/6/2047 $549,335 $163,712 31 85 30/6/2048 $405,144 $167,805 32 86 30/6/2049 $249,354 $172,000 33 87 30/6/2050 $81,270 $176,300 34 88 30/6/2051 $2,082 $81,270
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- use 16 to calculate how much is enough for retirement
Let's say you retired this month aged 55, and wanted an annual...
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