Home > Resources > How much do I need in Retirement?

How much do I need in Retirement?

Picture of Roger Perrett

Roger Perrett

Executive Financial Advisor

Retirement is a much-anticipated chapter in life, promising relaxation, exploration, and the freedom to enjoy the fruits of your labour. As you look forward to the greatness of retirement, the question arises: how much money will you need to live the lifestyle you desire? This often-overlooked query can cast a shadow of uncertainty on the otherwise exciting prospect of retirement. In this narrative, we’ll explore the positive aspects of retirement dreams, delve into the problem of not knowing how much is needed, and offer a resolution through retirement planning.

The Greatness of Retirement Dreams

Retirement dreams are filled with the promise of leisurely mornings, travel adventures, and the pursuit of passions long postponed. It’s a time to relish life without the constraints of a nine-to-five schedule, creating a canvas for a fulfilling and enjoyable future.

The Unspoken Challenge – How Much Will You Need?

However, beneath the surface of retirement dreams lies the challenge of not knowing how much money is needed to sustain the desired lifestyle. Many individuals are unsure about how much they need each year to live on. Our guide is:

  • $150K+ first class lifestyle,
  • $100Kpa business class lifestyle
  • $70Kpa premium economy lifestyle,
  • $50Kpa ASFA comfortable,
  • $46Kpa ASFA modest,
  • $30Kpa Age Pension.

Source: https://www.superannuation.asn.au/resources/retirement-standard/

Understanding one’s own spending habits becomes crucial for crafting a retirement that aligns with personal goals.

Get your Retirement Ready Score

Unlock valuable insights about your retirement status by completing a quick 7-step questionnaire. Begin your path to a worry-free retirement now!


Practical Approaches to Assess Your Spending

To understand your spending patterns, a few practical approaches can be employed:

1. **Credit Card Repayment Amount:**

   – If you pay for everything on a credit card, reviewing the monthly repayment amount can provide insights into your spending.

2. **Cash Account Changes vs. After-Tax Salary:**

   – Tracking the changes in your cash account can assist. Say your are saving, $5,000 per month, we simply compare this to your after-tax salary deposits, to reveal your spending habits.

3. **Budgeting:**

   – Creating a detailed budget is an effective way to categorize and analyze your monthly expenses.

The Good News – Retirement Planning for Financial Clarity

The good news is that through retirement planning, you can gain financial clarity and set realistic goals for your superannuation balance. By considering factors such as your:

  • desired retirement age,
  • contribution rate to superannuation, and
  • investment risk profile,

We can provide a forecast of how much you’ll need for a comfortable retirement. We can also show you by changing any of these factors, what difference it can make.

The Resolution – Contact Us for Tailored Advice

The resolution to the uncertainty surrounding retirement finances is to seek professional advice. Beyond providing a forecast, we can offer strategic advice on retirement planning that goes beyond just the numbers. Our experts can guide you on strategies that ensure not only a comfortable retirement lifestyle, but also provide peace of mind for a secure financial future.

The Call to Action – Retirement Planning for a Secure Future

Iif you’re unsure about how much money you’ll need in retirement, contact us. Our team of experts specializes in retirement planning, offering personalized forecasts and strategic advice to provide financial clarity and peace of mind.

To discover how to determine the right amount for your retirement dreams and to explore tailored retirement planning strategies, we invite you to contact us. Let’s work together to transform retirement uncertainties into a chapter of financial confidence and fulfillment.


This information is general advice. We have not considered your objectives, personal or financial circumstances. You should consider the appropriateness of the advice for your circumstances before making any decision. You should obtain and consider the relevant Product Disclosure Statement and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.

Past performance is not an indication of future performance.

This presentation has been prepared and presented by Roger Perrett, Freshwater Wealth Management Pty Ltd CAR no.1307016, Alliance Wealth Pty Ltd AFSL No.449221. This information cannot be used or copied in whole or part without our express written consent.

While every effort has been made to ensure the accuracy of the information, it is not guaranteed. It is based on our understanding of regulations and laws as at the publication date. As these are subject to change you should talk to a professional adviser for the most up-to-date information.

To the maximum extent permitted by law, no person including Alliance Wealth Pty Ltd nor its related entities, employees or representatives accepts responsibility for any loss suffered by any person arising from reliance on this information.

Share the Post:

Create wealth for you to enjoy

Start a conversation with us today and take the first step towards a prosperous financial future.

Let's Get Started

Claim the opportunity to meet our expert Financial Advisors, at no cost to you. Gain clarity on goals, get an action plan, and see how we can support your financial dreams.

Ready to get started? Fill out this form to contact our friendly team.

0412 004 665


8/309 George Street
Sydney NSW 2000