Financial Freedom Calculator
Are you on track for your Financial Freedom?
Find out by using our calculator.
Simply move the sliders below to see how your combined pension savings and investments can accumulate, choose the age at which you want to have the option to step back from work, then confirm the income you'll need to support the lifestyle you've envisioned when you have the freedom to focus on the things that you're passionate about.
If your current projection [in red] falls short of your target [in green], or you find yourself making significant compromises with your age and income inputs to make the outcome sustainable, then you could benefit from speaking to one of our financial advisors.
The red line indicates your current projection, which assumes investment growth of 3% every year. The pink shaded area either side of the red line indicates the potential high or low growth of your investments, with the high growth assumption anticipating growth of 5% every year and the low growth assumption anticipating growth of 1% every year.
Research published in the Lancet* suggests that if life expectancy in developed countries continues to increase at the current rate over the course of the coming decades then the majority of people born in the UK since 2000 will live beyond their 100th birthday. With life expectancy increasing in this way, a target age of 100 has been chosen for the calculator, as we want to ensure that all our clients have planned with confidence for a future that is sustainable and affords them absolute peace of mind.
* The Lancet - Ageing populations: the challenges ahead [Prof. Kaare Christensen, MD, Prof. Gabriele Doblhammer, PhD, Roland Rau, PHD, Prof James W Vaupel, PHD] Published Oct 3 2009.
Many people aim for an income in retirement that is two thirds of their current salary. For example, if your current annual salary is £90,000, then £60,000 per year should enable you to maintain this lifestyle once you step back from work.