Tip

For simplicity, it’s often easier to use the Six-Step Wealth Check primarily to track your superannuation savings, and then at a later time focus on any non-super savings or investments you may have. ASIC also provides a free online calculator that you can use to estimate how your existing non-super savings have grown. The MoneySmart compound interest calculator can estimate what your non-super savings will be worth at a future date if you reinvest all the interest you earn. The calculator can estimate for a one-off amount, or for an investment where you make regular additional investments. The one flaw with the compound interest calculator is that it doesn’t take into account fees and taxes, although you can correct this flaw fairly easil....