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ASFA retirement incomes

How much could I need for a ‘modest’ retirement?

To support a ‘modest’ lifestyle in retirement, ASFA estimates that singles would need an income of around $28,165 p.a. and couples around $40,560 p.a.

A ‘modest’ retirement is considered to be more than the Government Age Pension but still having only limited travel, dining out and leisure activities.

What about a ‘comfortable’ retirement?

To achieve a ‘comfortable’ retirement, ASFA estimates that single retirees would need an income of around $44,146 p.a. and couples around $62,269 p.a.

A ‘comfortable’ retirement is defined as involving a broader range of leisure activities, regular eating out and occasional international travel.

Find out more about the ASFA Retirement Standards, opens in a new window.

How else can I estimate my retirement income?

Although the ASFA standards are a useful guide, if you are used to living off an above average income, you may instead want to assume you’ll need around 67%View disclaimer1 of your pre-retirement gross income to maintain a comparable lifestyle.

For example, if your pre-retirement income was $120,000 then you may need around $80,000 each year in retirement to maintain the same standard of living.

Alternatively, to tailor the estimate to your specific circumstances, consider using our Budget calculator, opens in new window.


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Any general tax information on this website is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.