Retirement › Am I on track
Am I on track for retirement?
Guest session · household profile: 2 adultsThe verdict
Behind, but fixable.
On today's numbers your pot replaces just over half your income at 65. Closing the gap takes about R2,100 more a month, or two extra working years.
Projected pot at 65
R3.1m
In today's rand, at 4% real growth
Income replacement
54%
Of your current pay; the usual target is 75%
Monthly gap
R4,200
Short each month once you stop working
Years of runway
17
The pot lasts to about age 82
To be completed
Two-pot savings component
R38k
Example value – add your fund statement
Contribution rate
15%
Yours plus your employer's, of gross pay
What this means
- Your pot runs out at 82, not 95. At 15% contributions you get 17 years of drawdown.
- R2,100 more a month closes half the gap. Section 11F tax relief pays back roughly a third of it.
- Retiring at 67 lifts replacement to 63%. Two more years of growth, two fewer of drawdown.
- A R38k two-pot withdrawal costs about R100k at 65. In today's rand, before the tax you pay on it now.
Your pot against what you need
Projected potPot needed
| Age | Projected | Needed |
|---|---|---|
| 40 | R0.9m | R0.9m |
| 65 | R3.1m | R5.7m |
Next: see what R2,100 more a month would do.
Model a higher contribution →