Plan my retirement
It’s never too early — or too late — to start planning for the retirement you want.
How much do I need for retirement?
There’s no single correct answer, because everyone’s idea of retirement is different. The amount you’ll need depends on the lifestyle you want, your day-to-day expenses, and how you plan to spend your retirement years.
For many Australians, income in retirement is a combination of superannuation and government support like the Age Pension. While the Age Pension provides valuable support, it’s intended to help cover essential living costs rather than fully replace the income you earned while working.
That’s why your super is so important. The more you grow it over time, the more choice and flexibility you’re likely to have — whether that’s travelling, spending time with family, pursuing hobbies, or simply enjoying the freedom to do what you want.
You may have other sources of income too, such as part-time work, personal savings, shares or investment properties. The mix looks different for everyone.
“If you own your own home, you’ll need around two-thirds (67%) of your pre-retirement income to maintain the same standard of living in retirement.”
Source: Moneysmart
It's a useful guide but remember it's just that — a guide. Your retirement costs will depend on what's important to you and the lifestyle you want to enjoy.
Try the retirement calculator
You can use the calculator to estimate how much income you could have in retirement and how long your super might last. You can also compare different scenarios, including:
Making additional contributions before retirement
Changing your investment option
Retiring later
Seeing how different spending levels affect your savings.
It's aligned with the ASFA Retirement Standard — Australia’s benchmark for the annual cost of a modest or comfortable retirement.
Balancing life expectancy and income
Many Australians are living well into their 80s and beyond, which means retirement could last 20 or 30 years — or longer. And we don’t always choose when we retire: health, caring responsibilities or an unexpected redundancy can bring it sooner than planned. Planning isn’t just about deciding when to retire — it’s about making sure your savings can support the lifestyle you want for years to come.
To put it in perspective, you might be interested to know that:
Source: Australian Government life expectancy tables (guides.dss.gov.au). Current as at August 2026.
Get our retirement guide
Whether you're ready to retire now or just starting to think about it, our guide can help you get prepared.
What can I do now to be retirement ready?
Here are some easy ways that can help improve your financial security — whether retirement is fast approaching or still a way off.
Make extra contributions
Learn about the different contributions you can make to boost your super before you retire, including a downsizer contribution if you sell the family home.
Find and combine your super
Multiple accounts could mean multiple fees. Tracking down old super accounts is a simple, easy way to grow your super.
Review your investment option
If it’s been a while, review how your super is invested. Market ups and downs are normal, but as you near retirement your preferred level of risk may change.