We all love our takeaway coffees, but it’s shocking how the cost of everyday items can add up. Click on any of the above icons to see where you could save a few dollars. Our Small Change Big Savings calculator shows how putting small amounts towards your super fund could make a big difference to your future. With your super, every cent counts.
Based on investing this monthly amount into [INVESTMENT_CHOICE] risk fund and assuming [INVESTMENT_RETURN]% p.a. growth over a [YEARS_TO_RETIREMENT]-year period.
How this information could help you
Looking at your weekly spending, is there a category that could shift? Investing these funds into your super now could give you more options in retirement. Paying extra into your super account today could grow a small amount into a larger one over time. Think of it this way, opting to make your morning coffee at home now could help you maintain your lifestyle when you stop working. That’s SUPER smart.
So, what’s next? Here are three things you can do right now to boost your super:
The purpose of this tool is to illustrate how small changes in your day to day spending could produce long term savings in today’s dollars. It provides general or factual information only, using certain assumptions. It does not take into account the potential impact of taxes, fees and costs on your savings. Actual savings outcomes will be different if the assumptions don’t replicate your personal circumstances.
Assumptions
Contributions
Contributions are assumed to be made as regular, after-tax monthly contributions with 3 investment options, for the whole of the contribution period. It is assumed the savings account is not subject to any contributions limits, and that all contributions can be added without additional tax or fees.
Investment returns
Investment returns are assumed to be post-tax and consistent for the duration of the contributions period. The investment returns used in the calculator are listed here below, depending on the investment option you select.
Retirement phase return p.a. (pre-tax return)
Accumulation phase return p.a. (post-tax returns)
Low Returns
3.05%
3.59%
Moderate Returns
6.46%
5.90%
High Returns
6.78%
7.14%
If you do not select an investment option, a constant return of 6.44% p.a (Moderate) is assumed. Assumed investment returns do not reflect the impact of fees on investment income, as this depends on the type of savings vehicle you use. Click on the question mark (?) within the tool to see the investment return used in calculating your estimated savings.
Items
The costs of the everyday items are estimated and do not necessarily represent their exact cost to you.
The cost of each everyday item shown in the calculator is assumed to remain the same for the duration of the contribution period, ignoring the impact of inflation; so. increases in contributions are shown in today's terms.
Contribution period
When calculating how much extra you could contribute, it is assumed you choose to invest your savings until you retire. The calculator assumes a retirement age of 67. You can adjust the contribution period by selecting your current age, otherwise the calculator assumes you have a default age of 30 and have a contribution period of 37 complete years.
Disclaimer
This Tool does not know the future
The Small Change, Big Savings Tool cannot take into account changes in your personal circumstances, actual future investment returns, inflation or future changes to Government regulations (including Age Pension and tax regulations).
Results are in today's dollars
Showing results in today's dollars allows you to consider any estimated savings in the context of the cost of today's goods and services and your current standard of living.
Use this Tool with financial advice
This Tool does not take into account your personal objectives, financial situation or needs. The Tool cannot determine your final account balance or income amount; and the projections shown are intended as a guide only, based on the information you input and other assumptions. You should not rely on the Tool in isolation to make any financial decisions. Before making a decision about how you might invest savings in any financial product, you should read the relevant Product Disclosure Statement (PDS). You may also find it beneficial to consult a licensed financial adviser.
Who is responsible for this Tool
This Tool has been constructed by Gallagher. While the Tool is made available to you from the GuildSuper website, as part of the site’s educational materials, GuildSuper is not responsible for the accuracy of the Tool’s calculations.