10X Retirement Calculator

[siriusp23]

Hi All,

Does anyone know if the 10x retirement calculator has some terms and conditions? I cant find anything listed and expect that the calculation is done expecting an increase in contributions of 5-7% yearly?

From the calculator however it looks like if I contribute the same R3500 pm till I retire I will reach the amount stated depending on the market.

https://imgur.com/a/36gdlfV

Does the calculator expect additional yearly contributions or is this the fixed amount?

Thanks in advance!

 

[bigred630702000]

@siriusp23 Best to check out M and G retirement calculator. It's very good and just set your inflation amount to zero to obtain your future value of your money in today's present worth!

 

[ratos]

@bigred630702000 Thanks. This looks promising.

 

[ucdavis]

@siriusp23 Just remember it’s a projected future value. So that R7m in x years might only be worth what R2m is worth now.

 

[siriusp23]

@ucdavis Ah that was my other question, is this in todays money or account for inflation, etc. This is problematic... How the heck do I know whether I'm saving enough

 

[pragyana]

@siriusp23 Have to take inflation into account and it is not 5%, more like 12% per annum, speaking from experience, I have been retired for 9 years

 

[ucdavis]

@pragyana Would be interesting to see the results of a retirement calculator from 20/25 years ago for a retirement date of current day and see how the results compare to the actual.

 

[amanda37]

@pragyana That's a bit depressing to read as a young man but the truth hurts

 

[lovewithoutforgiveness]

@siriusp23 Their calculator has been dumbed down like a year or two ago. I don't know why. It used to take into account inflation, and you living on 70% of your current earnings.. It probably still does, but there is no info on what is included/excluded any more.