69 lines
2.6 KiB
Python
Executable File
69 lines
2.6 KiB
Python
Executable File
#!/usr/bin/python3
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## NOTE: at present we clear 170 after tax between us
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# the amounts below are 'after tax' equivalent, but also just damien
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# no consideration of lump sums in my or Mandy's super (adds ~500k lump sum)
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### Quote: ". So ... 60-year old male will need a lump sum of almost $500,000 to provide an annual income in retirement of $42,000 for 20 years."
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### Quote: "apply the 60% rule for a comfortable retirement saving"
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# THEREFORE BEST GUESS... add $40k to the number below, AND it needs to be 60% of 170 => GOAL is 102k
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# SO, can retire as soon as I can get my hands on my money and just make sure we can 'manage' for 4 years for Mandys
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## FINALLY, govt. says I can't get my super until I'm 60
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# but, we have 100k in ME B, 100k in shares, 150k in citi & if redundant, maybe another 100k? -- thats 4.5 years, call it 3 with the new car, and being not too crazy so, maybe 57... one more 5 year contract
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three_ben_sal=195999.36
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ben_serv_b4_2015=18.7096
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pension_factor={}
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avg_serv_fraction=0.999901
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avg_cont_factor=1
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five_ben_sal=174156.79
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ben_serv_after_2015=8.8603
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ben_serv_b4_2000=3.71
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avg_serv_frac_at_2003=0.999646
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lump_sum_fac={}
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four_pct=0.04
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MAX_AGE=66
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# unisuper defined "globals"
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# pension factor is 1.3 at age 55 and climbs by 0.04 each year to 65+
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for age in range (55, MAX_AGE):
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pension_factor[age]=(1.3+(age-55)*0.04)/100
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# at age 52 its 20.4 with a .2 each year to 65
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base_lump_sum=20.4
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for age in range (52, MAX_AGE):
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lump_sum_fac[age]=base_lump_sum+(age-52)*.2
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# cant retire here, so update 5bs, 3bs, ben_serv, etc. up to 55 as best I can guess
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# ben_serv_after just increases by 1 each year, so add 3 from 52 to 55
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ben_serv_after_2015 += 3
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# within 2 years, then 5bs will be what my 3bs is now (at least)
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five_ben_sal = three_ben_sal
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# we get a 4% increase each year, over the next 2 years?, so add them when I confirm
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three_ben_sal *= 1.04
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three_ben_sal *= 1.04
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#three_ben_sal *= 1.04
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# this is a rough-ass guess (its 4% / 5 more each year)
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# need to make this smarter, e.g.
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# year 0 - five_bs
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# year 1 - five_bs / 5 * 1.04 + five_bs*4/5
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# year 2 - (five_bs / 5 * 1.04 + five_bs*4/5)/5 * 1.04 + 4/5 of above
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# etc.
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five_ben_sal * 1.008
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#five_ben_sal * 1.008
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#five_ben_sal * 1.008
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for age in range (55, MAX_AGE):
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line1=three_ben_sal*ben_serv_b4_2015*pension_factor[age]*avg_serv_fraction*avg_cont_factor
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line2=five_ben_sal*ben_serv_after_2015*pension_factor[age]*avg_serv_fraction*avg_cont_factor
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line3=three_ben_sal*ben_serv_b4_2000*four_pct*avg_serv_frac_at_2003*(pension_factor[age]/lump_sum_fac[age])
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print(f"Pension amount at {age} = {line1+line2+line3}" )
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