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Depending on your situation, you may want an income of something between 50-70% of your current income when you retire.
We’ve put some numbers together to give you an idea, to get you started thinking about what you might like. It’s different for everyone and you need to consider your own circumstances. You should not rely on these numbers for your own planning and we recommend you seek advice in relation to your own situation and goals.
Remember, the numbers on this page are only rough estimates using set assumptions, including eligibility for the Commonwealth Age Pension using current eligibility rules. These estimates may be different to what you need and you may even need more. You can see the assumptions we’ve used here.
If you aren’t sure of your current spending habits, you can use our super-quick, rough-numbers calculator, or try the Moneysmart Budget Planner.
Are you…
Choose your retirement goal below for a single person.
If you're single...
Click on the tab below that is closest to your current salary to get started.
... and earn $70,000 a year now
... and earn $100,000 a year now
... and earn $150,000 a year now
If you want to live on $46,000 a year in retirement
(That’s about 66% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $545,000 |
| at age 55 | $445,000 |
| at age 50 | $356,000 |
| at age 45 | $278,000 |
If you want to live on $55,000 a year in retirement
(That’s about 80% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $745,000 |
| at age 55 | $618,000 |
| at age 50 | $506,000 |
| at age 45 | $409,000 |
If you want to live on $66,000 a year in retirement
(That’s about 94% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $1,007,000 |
| at age 55 | $846,000 |
| at age 50 | $704,000 |
| at age 45 | $581,000 |
If you want to live on $46,000 a year in retirement
(That’s about 46% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $545,000 |
| at age 55 | $431,000 |
| at age 50 | $330,000 |
| at age 45 | $243,000 |
If you want to live on $55,000 a year in retirement
(That’s about 55% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $745,000 |
| at age 55 | $605,000 |
| at age 50 | $481,000 |
| at age 45 | $373,000 |
If you want to live on $66,000 a year in retirement
(That’s about 66% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $1,007,000 |
| at age 55 | $833,000 |
| at age 50 | $679,000 |
| at age 45 | $545,000 |
If you want to live on $46,000 a year in retirement
(That’s about 31% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $545,000 |
| at age 55 | $409,000 |
| at age 50 | $288,000 |
| at age 45 | $183,000 |
If you want to live on $55,000 a year in retirement
(That’s about 37% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $745,000 |
| at age 55 | $583,000 |
| at age 50 | $439,000 |
| at age 45 | $314,000 |
If you want to live on $66,000 a year in retirement
(That’s about 44% of your current income), your super balance at the following ages would need to be approximately:
| at retirement | $1,007,000 |
| at age 55 | $810,000 |
| at age 50 | $636,000 |
| at age 45 | $485,000 |
Choose your retirement goal below for a couple.
If you're in a couple...
Click on the tab below that is closest to your current combined salary to get started.
... and together you earn $120,000 a year now
... and together you earn $150,000 a year now
... and together you earn $200,000 a year now
If you want to live on $65,000 a year in retirement
(That’s about 54% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $640,000 |
| at age 55 | $505,000 |
| at age 50 | $385,000 |
| at age 45 | $281,000 |
If you want to live on $81,000 a year in retirement
(That’s about 68% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $1,003,000 |
| at age 55 | $820,000 |
| at age 50 | $657,000 |
| at age 45 | $518,000 |
If you want to live on $100,000 a year in retirement
(That’s about 84% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $1,388,000 |
| at age 55 | $1,154,000 |
| at age 50 | $949,000 |
| at age 45 | $770,000 |
If you want to live on $65,000 a year in retirement
(That’s about 43% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $640,000 |
| at age 55 | $492,000 |
| at age 50 | $360,000 |
| at age 45 | $245,000 |
If you want to live on $81,000 a year in retirement
(That’s about 55% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $1,003,000 |
| at age 55 | $807,000 |
| at age 50 | $633,000 |
| at age 45 | $483,000 |
If you want to live on $100,000 a year in retirement
(That’s about 66% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $1,388,000 |
| at age 55 | $1,141,000 |
| at age 50 | $923,000 |
| at age 45 | $734,000 |
If you want to live on $65,000 a year in retirement
(That’s about 33% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $640,000 |
| at age 55 | $470,000 |
| at age 50 | $317,000 |
| at age 45 | $185,000 |
If you want to live on $81,000 a year in retirement
(That’s about 40% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $1,003,000 |
| at age 55 | $785,000 |
| at age 50 | $591,000 |
| at age 45 | $423,000 |
If you want to live on $100,000 a year in retirement
(That’s about 50% of your current combined income), your combined super balance at the following ages would need to be approximately:
| at retirement | $1,388,000 |
| at age 55 | $1,119,000 |
| at age 50 | $881,000 |
| at age 45 | $675,000 |
What do you spend?
If you want to find out more about what your lifestyle currently costs, download our super-quick calculator. You only need to type in a few numbers and you’ll be able to see a rough number showing what your lifestyle could cost after retirement (so, when you’re no longer putting money aside for your super and no longer paying for school fees and things like that). It’s not 100% accurate, but it is a good place to start.
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