Small change, big savings

Select how many of each item you could give up, to see how this could add up:

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Coffee

cup of coffee per

- Coffee +
Lunch out

lunch per

- Lunch out +
Restaurant

restaurant meal per

- Restaurant +
Take away

take away per

- Take away +
Snacks

snack per

- Snacks +
Beverage

beverage per

- Beverage +
Cinema

trip to the cinema per

- Cinema +

Click Next or the About You tab to see how much you could potentially add to your retirement savings by making small changes to your spending on everyday items. You can also click on an icon above to see an example.

Result Sliders

Your age

Investment option

Total savings

/month

Based on investing this monthly amount into [INVESTMENT_CHOICE] fund and assuming [INVESTMENT_NETRETURN]% growth over a [YEARS_TO_RETIREMENT] year period (after-tax & fees).

What now?

As you can see, when it comes to super, adding small extra amounts to your super over time can make a big difference to your lifestyle in retirement.

To learn more about making extra contributions go to https://mercysuper.com.au/manage-my-super/contribute/ or contact us.

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Disclaimer and assumptions

The Small Change, Big Savings calculator is not a recommendation and is not intended to be an exact figure. It is intended to assist you in assessing the effects your contributions and investment choices may have on your retirement outcome. The estimate may change in the future as it does not take into account any changes in the cost of living between the time of the preparation of the estimate and the future time or future changes to laws after the date of preparation of these assumptions. Estimates are in today's dollars (present value).

Do not rely on this calculator to make decisions about your retirement. You should consider your own needs, financial situation and investment objectives and may wish to get advice from a licensed financial adviser before making any financial decisions.

Assumptions

Contributions

Savings are assumed to be added as regular, after-tax monthly contributions into your superannuation account. Monthly amounts are calculated by dividing the yearly calculation by 12. Super contribution limits are ignored.

Any contribution limits relating to a specific savings account are ignored. The calculator assumes all contributions can be saved without additional tax or fees.

Investment returns

Investment returns are assumed to be consistent for the duration of the savings period.

Fees and insurance premiums are assumed to be as follows:

Administration fee	0.25% p.a. (of your account balance) subject to a cap of $600 p.a.
Insurance premiums	$1,000 p.a.

Fees are assumed to be tax-deductible in the fund. Insurance fees are ignored.

Items

The costs of the everyday items are estimates and do not necessarily represent the exact cost to you if you were to give up the item, at the specified frequency, as represented in the calculator.

The cost of each everyday item shown in the calculator is assumed to remain the same for the duration of the savings period. The effects of inflation on the cost of the item are ignored meaning the increase in savings is shown in today’s terms.

There are no fees, costs or taxes that are taken into account when calculating your total savings.

Investment period

When calculating how much extra you could save, it is assumed your investment period ends at age 67.

Inflation

The model/tool relies on both price inflation and wage inflation assumptions as detailed below. The assumptions of our default indexation rate of 2.7% per annum (CPI of 2% plus a rate of 0.7% with respect to increase in living standards) and wages growth of 2.5% per annum have been adopted in the context of continuing low price and wage inflation in Australia, with recent annual figures actually below these assumed rates.

Information current as at October 2021.

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Retirement age

Inflation

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Mercy Super/3.1.18r1

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Coffee

Lunch out

Restaurant

Take away

Snacks

Beverage

Cinema

Total savings

What now?

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Disclaimer and assumptions

Assumptions

Contributions

Investment returns

Items

Investment period

Inflation

Edit assumptions

Edit user defined investment option