How Much Do You Really Need for a Comfortable Retirement?
Looking ahead with confidence: new ASFA research shows how much Australians may need for a comfortable retirement.
Planning for retirement can feel like trying to hit a moving target. Rising living costs, healthcare needs, and lifestyle goals all add up, and the question many Australians ask is: What will I actually need to retire comfortably?
The Latest Retirement Standards
The Association of Superannuation Funds of Australia (ASFA) has just released updated figures for what it costs to enjoy a “comfortable” retirement. As of the June quarter 2025, the annual income needed is:
Singles: $53,289 per year
Couples: $75,319 per year
To sustain that level of spending, ASFA estimates that retirees aged 67 who own their own home will need superannuation savings of around:
$595,000 for singles
$690,000 for couples
What Does ‘Comfortable’ Really Mean?
ASFA defines a comfortable retirement as one where you can cover not just the basics like housing, food, and transport, but also extras that support health, connection, and lifestyle. This includes:
Private health cover, regular medical check-ups, and keeping fit
The ability to dine out, enjoy hobbies, and take day trips
Technology for staying connected with family
A modest annual holiday (domestic every year, international every seven years)
It’s about living with confidence, not extravagance, and being able to participate fully in community and family life.
Bridging the Gap
Many Australians nearing retirement find their super balances don’t quite match these figures. That doesn’t mean a comfortable retirement is out of reach, it highlights the importance of:
Contributing regularly (within annual contribution caps)
Using strategies like salary sacrifice to boost savings tax-effectively
Reviewing your super fund’s performance and fees
Considering how property, investments, and savings work alongside super
Planning Ahead
Retirement isn’t a one-size-fits-all journey. Factors like whether you own your home, your health, and your lifestyle choices all affect how much you’ll really need. Starting the conversation early, even 10 to 15 years before retirement, gives you more flexibility to adjust.
At Advice HQ, we help clients develop retirement strategies that align with their personal goals and circumstances. The sooner you review your plan, the more options you’ll have to shape the retirement you want.
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Get in touch today to discuss your options.
Note: This article draws on market insights and publicly available commentary from a range of professional sources. It is provided for general information purposes only and does not constitute personal financial advice. Please speak to your Advice HQ adviser to discuss your individual circumstances.