“I never dreamed about success. I worked for it.” Estée Lauder
The good news is you can live well when you retire. The better news is that by exploring these pages, you're already on your way.


The dream may be closer than you think

These days retirement can mean more than a rocking chair and roses. Australians live longer and have more time for activity¹. Many of us choose to keep a hand in the workforce for money, a sense of purpose and even to make new friends.

So, begin by thinking about what kind of retirement you'd like. Whether you picture yourself as the favourite grandparent, skydiving, cruising down the Danube or all of the above, begin by picturing what kind of tomorrow you'd like. After all, you've worked hard for it.

How long will I need to work?

The answer's different for everyone. We can help you find yours. First off, check out our retirement simulator and retirement needs calculator, to get a rough idea what you'll need to save so you can spend later on.

A comfortable retirement lifestyle costs around $61,000 for couples and $43,000 for singles per year².

How much super will I need?

Superannuation is likely to play a big factor in your future, so it makes sense to have an idea of what you should aim for. You can start by checking your current AMP super balance on My AMP, or register for this if you don't yet have it, and even add your accounts from other service providers so you can see everything all in one secure location.

You can use a retirement simulator to help you work out what you think you'll need. It compares budgets for couples and singles across comfortable and modest lifestyles, from food and clothing to bills and insurance.

What about pensions and other government help?

Depending on your circumstances, you might be eligible for other help.

What can I do right now?

The earlier you plan, the more options you give yourself. You might also be better off paying more to your home loan, or considering an annuity, which pays you a guaranteed income in retirement, depending on your circumstances. For your next steps, pick which applies to you best:

I'm thinking of retiring in the next few years.

I'm over 50, and need to know what to do next.

It's a long way off, but I'd like to get my plans in place.


¹Australian Institute of Health and Welfare, September 2018.

* ASFA retirement standard, 2019

What's next?

Get a guide to how much you might need in retirement

Important information

Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice. Although the information is from sources considered reliable, AMP does not guarantee that it is accurate or complete. You should not rely upon it and should seek professional advice before making any financial decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability for any resulting loss or damage of the reader or any other person.

The product issuer of the AMP Bett3r Account is AMP Bank Limited ABN 15 081 596 009, AFSL 234517.