Super site for baby boomers
AMP has developed a new web-based tool, ‘my retirement simulator’, aimed at educating pre-retirees about their superannuation.
The free-to-access website takes users through a series of questions including age, salary, super savings, and about the aggressiveness of their fund to determine how long their money will last in retirement.
The site then encourages users to access information about how to make their money last longer, and provides AMP contact details.
Users can request a report of their results, which AMP anticipates will lead to discussions with a financial planner.
Commenting on the launch, AMP director of savings and retirement Peter Nicholas said pre-retirees need to ensure they have sufficient superannuation to fund retirement plans.
“Many baby boomers have seen their parents living off inadequate retirement savings and with 10 to 15 years to go until they reach retirement they’re keen to know how they can boost their retirement funds so they can live the life they want once they hang up their work boots,” he said.
The site allows people to see the impact salary sacrificing, personal contributions and later retirement could have on superannuation and was developed after research revealed plenty of 50 to 60-year-olds focus on getting on track with super.
The site can be accessed at www.amp.com.au/myretirementsimulator.
AUTHOR
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
