How Much Do I Need To Live In Retirement?

The cost of a moderate or comfortable retirement;

Living Standard

Single Annual Cost

Couple Annual Cost

Modest

$27,646

$39,848

Comfortable

$43,255

$61,061

Many of us will spend more that a quarter of our life retired, as people are now living until an average age of 86 years (male) and 89 years (female). Life expectancy is expected to rise to 91 years for males and 93 years for females by 2050. So, you might need a lot more money for your retirement than you thought. Superannuation can help you enjoy your retired days by allowing you to maintain a good standard of living, which isn’t achievable by receiving just the Age pension.

*Source – ASFA Retirement Standard, March 2019