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Part 1: Factors that impact retirement outcomesUse the moneysmart retirement planner to project the retirement incomes of the following people.Age when they began workSalaryRetirement ageProjected retirement incomeProjected retirement income if they salary sacrifice 7% to their super18$80,0006724$80,00067What difference does beginning work sooner make to retirement outcomes?  Age when they began workSalaryRetirement…

Iram, Anh and Mason all went to the same country high school, but now they live in the city and share a house.Iram is a student and works waiting tables at a local Italian restaurant a few nights each week. His before tax (gross) income is $562.Ly is an apprentice electrician. His gross pay is $948 each week.Mason is a couple of years older and he graduated from uni last year and is now working as a teacher. His gross weekly income is $1,522…

Refer to Income distribution – Data sheet.Part 1 – How data affects mean and medianUse the data from Table 1: The annual salaries of 25 people in one street in a new suburb of Canberra.Open a new spreadsheet and put the salary data in a table with the following headings. Annual salary $71,562 $31,595 etc.Average (mean) Median Use the SORT function to sort the salaries from lowest to highest.Set up formulas to…

Let’s apply your learning about superannuation to your own situation!Step 1: Choose a jobChoose a career that interests you.Research the salary you can expect to earn. There are several websites that will help. Type ‘job salaries in Australia’ into a search engine.What can you expect to earn each year? Step 2: Choose a superannuation fundIf you haven’t already viewed Choosing a super fund, or need a refresher, view it now.Type ‘…

Part 1 – How data affects mean and medianTable 1: The annual salaries of 25 people in one street in a new suburb of Canberra$71,562$49,587$53,654$102,658$42,985$31,595$24,450$26,860$55,614$56,555$50,500$37,951$44,214$64,195$81,687$41,665$59,654$18,671$54,450$42,900$61,460$38,523$78,159$52,365$67,22Open a new spreadsheet and put the salary data in a table with the following headings. Annual salaryEmployer's super contributions (11.5% of…

Explore, graph, and analyse data sets to answer questions about the distribution of income and superannuation in Australia.Part 1: How is Australia’s income distributed?Annual income range ($1,000s)No of people (1,000s)1-2583425-50533650-75450275-1002501100-1251501125-150667150-175500175-200333200-22583225-25083250-30042300-32542325-35042350 and over167 Use the data in table 1 to construct a histogram to show how Australia’s income is…

For these tasks you will set up a spreadsheet to investigate the difference making small payments more often makes to your super balance.Select one of the tasks.Task 1You have been working for 10 years and your super balance has been growing, but you’ve decided to take a year off and travel overseas. You won’t be making any super contributions during that time. However, your super will still be growing because of the investments made by your…

Explore the performance of superannuation over time and how the investment option you choose may be affected by your life stage.Part 1: Interpreting superannuation dataWhat conclusions can you draw about the performance of superannuation over time? How many times in the past 20 years have returns on investment been:Positive Negative? What year saw the lowest (or highest negative) return…