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Superannuation involves regular payments made into a fund that accumulates over time to provide financial support in retirement. This superannuation calculator tries to accommodate many of the variables that can have an impact on a future superannuation balance. Enter your current age, your desired retirement age, and predicted life expectancy. Then add the details of your current superannuation and income situation and projected future changes (see Details for an explanation of each control). It presents the super balance at retirement and yearly income in retirement in today's dollars (in other words, adjusted for inflation), allowing for easy comparison with the current cost of living.
Contributed by: Miles Ford (September 2015)
Open content licensed under CC BY-NC-SA
Current super balance represents any current savings in a superannuation fund. Regular income increase can be used to represent anticipated wage rise over time. Lump sum income increase can be used to examine the impact of an additional income stream being added, with years until lump sum added being how long from now before this occurs. Employer contribution and personal contribution are entered as percentages of total yearly income. Super fees sets the fees charged by your superannuation provider and super balance growth sets the anticipated yearly return on your superannuation investment. Inflation sets the anticipated average inflation rate over the time frame.
Wolfram Demonstrations Project
Published: September 9 2015