How Much Do You Need to Retire in Australia?

How Much Do You Need to Retire in Australia?2026-09-10T16:14:41+10:00

Find out your retirement number in minutes.

Most people reach their fifties without a clear answer to one simple question: how much do I actually need to retire?
Our free retirement calculator gives you a straightforward, personalised estimate, based on your age, your super balance and the retirement income you’re aiming for.

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18 — 80
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Employer contributions = salary × rate ÷ 12 each month.

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This calculator provides general information only and does not take into account your personal objectives, financial situation or needs. Actual returns and inflation will vary. Figures assume retirement savings are drawn down until age 100. It is not personal financial advice.

Why your “retirement number” matters

Retirement planning tends to feel abstract until it isn’t. Knowing your target number early gives you the time to act on it, whether that means adjusting your contributions, reviewing your investment strategy, or simply confirming you’re already on track.

This calculator estimates the lump sum you’ll need at retirement to fund your desired income and compares it to where your current super and contributions are projected to land. If there’s a gap, we’ll show you what closing it could look like.

How the calculator works

  • 1

    Tell us where you’re starting from. Your current age, planned retirement age and current super or investment balance.

  • 2
    Add your contributions. Employer contributions and any personal (voluntary) contributions you’re making each month.
  • 3
    Set your income goal. How much you’d like to live on each year in retirement, in today’s dollars.
  • 4
    Get your result. We calculate your required retirement savings, project your likely balance at retirement, and show you the gap (or surplus) at a glance.

What the calculator assumes

Every retirement calculator relies on assumptions, and we believe in being upfront about ours. This tool assumes the following:

  • Investment Returns – 9.4% p.a. return for High Growth, 8.9% p.a. return for Growth, 8.4% p.a. return for Balanced (default), 7.7% p.a. return for Conservative, 7.1% p.a. return for Very Conservative.
  • Inflation Rate – Desired retirement income is indexed at the inflation rate shown in the calculator (default 5% p.a.). Salary and personal contributions are not indexed to inflation and stay constant until retirement.
  • Desired Retirement Income – Retirement income is drawn down until age 100 (default $55,000 p.a. in line with the ASFA Retirement Standard for a single person’s comfortable retirement).

These are general assumptions, not a forecast of your personal outcome, and actual returns and inflation will vary. Full detail is in the disclaimer below the calculator.

Why get a second opinion from an adviser

A calculator can tell you your number. It can’t tell you the best way to get there, or whether that number is even the right goal for your life. That’s where a conversation with a financial planner helps: turning a projection into a plan that accounts for your tax position, your investment strategy, your risk tolerance and the things a calculator can’t see.

Newealth has been helping Sydney professionals, executives and families plan for retirement with clarity and confidence for over 35 years. If your results show a gap, or you’d simply like to make sure your plan is sound, we’re here for an obligation-free conversation.

FAQs

How much do I need to retire in Australia?2026-08-11T09:29:22+10:00

It depends on the lifestyle you want and how long your retirement needs to last. As a guide, the ASFA Retirement Standard estimates a single person needs around $630,000 in super for a “comfortable” retirement, and a couple around $730,000, assuming you own your home outright. Your own number will depend on your desired income, your age at retirement and how long you’re likely to need your savings to last, which is exactly what our calculator estimates for your situation.

How much super do I need to retire comfortably?2026-08-11T09:30:02+10:00

The ASFA Retirement Standard puts a comfortable retirement income at roughly $54,840 a year for a single person and $77,375 a year for a couple (current figures, home owned outright). A “modest” retirement, covering the basics, needs less super since the Age Pension covers more of the gap. Use our calculator to see what your own income goal translates to in super terms.

Does this calculator take the Age Pension into account?2026-08-11T09:32:47+10:00

No. This calculator estimates the retirement savings needed to fund your income goal entirely from your own super and investments, from your desired retirement age to average life expectancy. If you’re likely to be eligible for a full or part Age Pension (currently available from age 67, subject to residency and means testing), your actual required savings may be lower. Speak with us for a plan that factors in your Age Pension eligibility.

How accurate is this retirement calculator?2026-09-01T15:06:02+10:00

It’s designed to give you a realistic, general estimate, not a guarantee. It uses fixed assumptions for investment returns and inflation. Your actual retirement outcome will depend on real investment performance, inflation, your contributions, and personal circumstances that a general calculator can’t capture. It’s a starting point for a conversation, not a substitute for personal financial advice.

What if the calculator shows I have a shortfall?2026-08-11T09:34:47+10:00

A projected shortfall isn’t a cause for panic, it’s useful information. It usually means one or a combination of a few things can help close the gap: increasing your contributions, adjusting your investment strategy, or reconsidering your retirement age or income goal. Our calculator shows you the extra monthly contribution that would close your gap under its assumptions, and our advisers can help you work out the most tax-effective and realistic way to get there.

Is this financial advice?2026-08-11T09:35:25+10:00

No. This calculator provides general information only and doesn’t take into account your personal objectives, financial situation or needs. It’s a useful starting point for understanding your position, but it isn’t personal financial advice. For advice tailored to your circumstances, book an obligation-free call with a Newealth financial planner.

Sources used for figures referenced in this copy

  • ASFA Retirement Standard comfortable/modest retirement income and lump sum figures (via AMP, Canstar and Australian Retirement
    Trust coverage of the February 2026 update)

  • Services Australia — Age Pension eligibility age (67)

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General Advice Warning: The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

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