Why should you use the 10X Retirement Calculator?

Use our retirement calculator to define your goal

Your retirement goal may be to accumulate a minimum amount of capital by the time you retire and to live off this capital thereafter. Or you plan to purchase an annuity at retirement and your goal is to replace (at least) a minimum percentage of your final salary. Our retirement calculator projects both scenarios.

Use our retirement calculator to shape your expectations

The retirement calculator projects both your monthly pre-tax income in retirement, as well as your final investment value, and compares these against your target. All projections are in real (after-inflation) terms to give you a sense of what this money would buy today. These projections are an indication and are not guaranteed in any way. The calculator makes default assumptions regarding your target (a final income replacement ratio of 60%) and the expected future market return. You can flex both these assumptions.

Translate your savings plan into retirement income

The monthly income projection is based on the current price of an annuity, guaranteed for life and growing annually with CPI inflation, for a single person at their projected retirement age. All these factors affect the amount of your monthly income.

Retirement age: The earlier you retire, the less you will likely have saved and the longer your life expectancy. All this translates into a more expensive annuity and a lower monthly income. Our calculator enables you to flex your retirement age, to give you a sense at what age you could afford to retire.

Gender: Statistically, women have a higher life expectancy than men. Unfortunately, this translates into a more expensive annuity and a lower monthly income for women.

Single person: The monthly income is based on the cost of an annuity for a single person, without a survivor benefit. A guaranteed annuity is an insurance not an investment product. This provides certainty but also means that your capital dies with you. You can add a survivor benefit to your annuity, but this will increase the cost of the annuity (effectively lowering your monthly income).

Fixed or variable: You can choose between a fixed annuity, that will pay you the same monthly amount for the rest of your life, or a variable annuity that will adjust annually based on a pre-determined metric such as CPI inflation. The fixed annuity will pay out more initially, but the purchasing power of the monthly income will decline over time, due to inflation. The variable annuity will pay out less initially, but the monthly income will grow annually, as per the agreed terms.

Take action against a projected retirement income shortfall

What if you fall short of your retirement goal? Other than hoping for a higher market return, your options are to increase your retirement age or your monthly contribution. You can flex both these assumptions, and see how that might affect your outcome.

Use our retirement calculator to make informed decisions

The 10X Retirement Calculator projects two outcomes: an ‘Industry’ and a 10X outcome. The ‘Industry’ outcome is based on the industry average cost of 3% pa, whereas the 10X outcome is based on the 10X sliding fee scale. The point here is not just to underline the 10X value proposition, but also to alert you to the severe impact of high fees on your long-term savings outcome. You will notice that the longer your savings terms, the more pronounced the impact. When you pay annual fees, you don’t just lose a part of that year’s investment return, you also lose the return you would have earned on those fees for the rest of the investment term. Compounded of thirty or forty years that becomes a big number.

Visit our Retirement Calculator now and plan for a successful retirement. If you already invest with 10X, you can also access this tool through the Investor Portal, under Retirement Planning.