How much income do I need to retire?


As a general rule of thumb, Australians on above average incomes will need an income equal to about 67% of their pre-retirement earnings to maintain their lifestyle throughout retirement1. But if you’re planning a large expense—like an overseas trip—you may need more.

Keep in mind that if you're planning to retire at age 65 it’s likely you’ll live for another 20 years on average. The average Australian woman aged 65 has a life expectancy of about 87 years and men are expected to live to about 85 years2.

You may spend more than a quarter of your life in retirement and the quality of your lifestyle throughout that time will depend on how much money you have access to.

Watch our How much super do you need? video to get some tips on how to achieve the lifestyle you want in retirement.


Next steps

Use AMP’s retirement simulator to find out what your annual retirement income might be, how long your money may last and what you can do to maintain your lifestyle when you retire.

Our life expectancy calculator can help assess how long your money might need to last in retirement, taking into account your health, family history, diet, physical activity and lifestyle.

And finally, if you’d like help developing a financial plan to make the most of your income in retirement, speak to your financial adviser, who can advise you based on your particular goals, needs and circumstances.

If you don’t have a financial adviser you can use our find an adviser tool to locate one in your area, or call us on 131 267 so we can find someone to help you. Start planning today with AMP.

1  ASIC Moneysmart, How much super is enough?
2 OECD Health Statistics 2017, Frequently Requested Data.

My retirement simulator

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Getting ready for retirement

Learn about preparing emotionally and financially for retirement 

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Salary sacrifice calculator

Compare the effect on take home pay and super by making personal super contributions, using either salary sacrifice or an after-tax contribution. 

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Important information

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