How much will I need?

Retirement may be a long way off for you; if so, your plans are probably vague or, even more likely, non-existent. You can start by thinking about what you might expect your retirement to look like:

  • Do you hope to retire at Normal Retirement Age (65) or retire earlier or later?
  • Do you think you’ll have a family? What ages might your children be when you reach retirement age?
  • Do you think you’ll own a house or a car? What about any other assets?
  • What might you do in retirement? Do you think you’ll have similar leisure pursuits to those you have now?

Think about how much money you will need for:

  • Financial commitments
    – e.g. mortgage
  • Living expenses
  • Repairs or renovations
  • Leisure pursuits

Check your progress

Use this worksheet to check if your plans are on track