FAQ and Support

You can download the eairwoman app for your iPhone or iPad by following the ‘Download App’ link.

The eairwoman app is currently only available for ios devices and specifically optimised for an iPhone. You can also download the eairwoman app onto an iPad.

Once you’ve download the eairwoman app from the Apple App Store, registration is simple. Use your existing Apple ID to register and login.

We take data security and privacy seriously. Our privacy policy sets out how we collect and use personal information. Please refer to our terms and privacy policy which are available in full as part of the registration process.

Each time you open the app you will be required to quickly and securely Sign in with Apple (Face ID, Touch ID or your device passcode). This is part of the app security to ensure only you are accessing your details.

Under ‘My Finances’, you will need to complete all fields marked ‘Mandatory’ under the sections ‘About You’, ‘Assets/Liabilities’ and ‘Super Details’.

Once all mandatory fields have been completed, the status bar at the top of the screen will turn green.

You will then be able to navigate all areas of the app and start your eairwoman journey.

To get the most out of the app we recommend you also complete the section ‘Income/Expenses’. Note, not all fields need to be completed here, just the ones which are relevant to your circumstances.

You will need to complete filling out all four sections of My Finances, including all fields marked as ‘Mandatory’.

Note, not all fields under ‘Income/Expenses’ need to be completed, just the ones which are relevant to your circumstances.

You fill also need to complete the fields ‘Dependents’ and ‘Hobbies’ under the About You section.

The Association of Superannuation Funds of Australia is the peak body for the superannuation industry. They provide information and resources on a range of retirement topics including publishing the ASFA Retirement Standard.

The ASFA Retirement Standard benchmarks the minimum annual cost for a ‘comfortable standard of living’ in retirement. It also suggests the superannuation balance required at retirement to achieve this ‘comfortable lifestyle at retirement’.

The eairwoman app uses these benchmarks as per the ASFA Retirement Standard in regards to income and superannuation balance required to achieve a ‘comfortable standard of living’ in retirement.

The ASFA Retirement Standard can be found here https://www.superannuation.asn.au/resources/retirement-standard

‘Financial Health’ represents the difference between the value of your total Assets (including superannuation balance) and total Liabilities. You will have a positive number displayed when your total Assets is greater than your total Liabilities. Conversely, a negative number is displayed when your Liabilities exceed your Assets. You can update your Assets and Liabilities from the My Finances section of the app.

The eairwoman app can be used in two ways.

One option is to assume you will be funding your retirement based on your individual finances only, that is, not combined with a partner. In this case you would set ‘Combined with Partner’ to ‘No’. All the information you enter under My finances (Super Balance, Assets, Liabilities etc) should be based on you as an individual, not including that of a partner. The modelling the eairwoman app then makes will reflect that of a single person (yourself) achieving a ‘comfortable standard of living’ in retirement.

The other option is to assume you will be funding your retirement with the combined finances of a partner. In this case you would set ‘Combined with Partner’ to ‘Yes’. All the information you enter under My finances (Super Balance, Assets, Liabilities etc) should reflect that of yourself and your partner. The modelling the eairwoman app then makes will reflect that of you as a couple achieving a ‘comfortable standard of living’ in retirement.

Use this option when you want to share the financial data you’ve entered in the app with a financial advisor. Selecting ‘Send Me My Data’ will email a copy of your data to your email address. Once received you can then forward or print the email to share with your financial advisor.

All calculations in the eairwoman app (including projected Super Balance) are ‘Inflation Adjusted’.

What does that mean? Let’s dive in…

Inflation is the rate at which prices for goods and services rise over time. In other words, inflation reduces the purchasing power of your money. The $100 you have today, won’t buy you the same amount in ten years time. Inflation has eroded your purchasing power.

Example 1 – 1 Year Investment – inflation adjusted

I invest $100,000 today and I expect it to grow by 8% during the next 12 months. I will end up with $108,000.

Let’s also assume over the next 12 months inflation will average about 3.5%.

Therefore in 12 months time my bank account containing $108,000 will only buy me $104,220 worth of goods and services because of inflation adjustment.

Example 2 – 10 Year Investment – inflation adjusted

Investment :

I invest $50,000 for ten years and I expect it to grow by 6% per year.

After ten years I expect to end up with a total of:

Initial investment : $50,000

Total at the end of Year One : $50,000 + 6% = $53,000

Total at the end of Year Two : $53,000 + 6% = $56,180

Total at the end of Year Three : $56,180 + 6% = $59,550

And so on …

Total at the end of Year Ten : $89,542

So I expect to have $89,542 sitting in my investment account after 10 years 😊

Inflation:

However inflation has been making everything more expensive during the same ten years.

Assuming the average inflation is 3.5% every year in this example, at the end of ten years everything will be 41% more expensive than it is today.

Therefore, I will have more money but I will also pay a lot more for everything.

In fact the amount I could buy with $89,542 will be 41% less, or equivalent to $52,829 in todays dollars

Outcome:

This is only $2,829 more than the $50,000 I started with, it doesn’t sound so great.

But if I had not invested the $50,000 at the start, after ten years inflation will have reduced how much I can buy 41%, or equivalent to $29,500 inflation adjusted ☹

So if I don’t invest, in ten years time I can only buy $29,500 worth of things in todays dollars.

But, if I do invest, in ten years time I can still buy $52,829 worth of goods and services.

Takeaways:

• Inflation eats away at your retirement money every single day, of every week, of every year!
• It’s important to invest your money to offset the reduction of your spending power by inflation
• The eairwoman app has inflation adjustment built in. All calculations will be adjusted for inflation. This is to show what your investment earnings will be in ‘real’ terms’, that is, what your spending power will be but represented in today’s dollars.

1. Log into the eairwoman app and navigate to Account then select ‘Delete Account’.

2. If you have a paid subscription, you’ll need to cancel this separately from your Apple Subscriptions. From your phone/ios device navigate to Settings then Subscriptions. Choose the eairwoman app and choose cancel subscription.

3. To completely remove the app and any data stored on your phone, you will also need to delete the app from your phone/ios device. Touch and hold the eairwoman app on the Home Screen, tap Remove App, then tap Delete App.