Are you saving enough for retirement?
Assumptions applied in this calculation
To evaluate your required contribution we've calculated a default retirement period of 20 years. This can be adjusted in the field below.
Please note! Your life span may vary and this could impact your retirement savings
Read on retirement savings
Some recommended reading on retirement savings.
With any financial goal, you’ll probably get the advice to start saving for it sooner than later.
And though retirement seems a long way off, starting to save for it right away is vital. The number of South Africans who’ll be able to maintain their living standard after retirement is low – estimates vary from 6 to 25 percent for a phase of life that can last 30 years.
Learn more about when you should be thinking of saving for your retirement.
This would generally depend on your unique retirement needs and the lifestyle you want to lead at retirement. The rule of thumb is that you should consistently save between 15% and 20% of your gross monthly income while you are aged 20 to 60 to retire comfortably.
But the truth is, not many have had the luxury to save this much towards their retirement. To solve for it, our retirement calculator can help you determine how much you still need to save in order to retire comfortably. Calculate now and start securing your future.
So you've decided to start saving for retirement, but after using our calculators, you realise you can’t afford the recommended monthly contribution. What now?