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This cost of living calculator figures out the cost of your current lifestyle so you know how much you'll need in retirement.

Laine 3 001

Laine Moger, a seasoned Journalist and Property Educator with six years of experience, holds a Bachelor of Communications (Honours) from Massey University and a Diploma of Journalism from the London School of Journalism. She has been an integral part of the Opes team for two years, crafting content for our website, newsletter, and external columns, as well as contributing to Informed Investor and NZ Property Investor.

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Cost of Living Calculator – How much income do I need in retirement?

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This cost of living calculator lets you know the cost of your current lifestyle so that you know how much income you'll need in retirement.

Best Cost of Living Calculator (2024) | Calculate Income Needed In Retirement

Living cost calculator

What salary do you need to live comfortably in NZ?

A "Choices Lifestyle", means you spend
somewhere between $53.5k – $76.5k per year.

The Choices lifestyle allows you to spend more
in retirement. And provided you have your own home and no debt you should enjoy
a good quality of life.

This is what a fifth of Kiwis, who fall within
the 61 to 80th percentile, spend once they retire.

Put simply, it means they’re spending more than
the average retiree. But, they are not spending in the top 20%.

You can eat out more regularly, have the money
to do more regular activities with your friends, or go on the occasional
overseas holiday. Hey, you can even take the art class you've always wanted.

How much money do you need a week to live in NZ?

The latest research by Massey University says that even a relatively cheap ‘no-frills’ retirement lifestyle (which we’ll get to in a moment) will cost you $605 a week, for a single person living outside the main cities.
Because superannuation is currently $437 that means the average retiree living alone will still be $168 a week short, in this example. And that’s just the shortfall for a relatively modest lifestyle.
The annual Living Wage (before tax) in New Zealand is $44,008.58 per year. 
This is $3,667.38 per month, or $846.32 per week. 
At this income, your average tax rate will be 18.62%.

Cost of Living Calculator – How much income do I need in retirement?

What salary do you need to live comfortably in NZ?

How much money do you need a week to live in NZ?

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