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The Association of Superannuation Funds of Australia (ASFA) provides a benchmark known as the ASFA Retirement Standard. This standard provides a guide for how much you might need to enjoy a comfortable or more modest retirement. In 2025 ASFA’s guidance for how much money you might need to have a modest or comfortable retirement is as follows:
For a modest retirement lifestyle (aged 65–84): To cover a basic but acceptable standard of living, ASFA calculates that a single person may require around $33,386 per year. A couple may need around $48,184 per year. These numbers are estimated to cover essential living expenses with minimal extras, and assume that you own your own home.
For a more comfortable retirement lifestyle (aged 65–84): If you’re wanting a more comfortable lifestyle, ASFA calculates that a single person may require around $52,383 annually, and a couple about $73,875. ‘Comfortable’ might mean a higher quality of housing with enough money to enjoy some extras such as dining out, holidays, and recreational activities.
To achieve a comfortable retirement, ASFA estimates that at age 67, super balances should be around $690,000 for a couple and $595,000 for a single person.1
These figures are subject to change due to variable factors like inflation and the cost of living. That’s why keeping an eye on your super is so important. Make the time to regularly review your balance and your investment performance to see how you may need to adjust your strategy as you work towards your goals.
1. Association of Superannuation Funds Australia, Retirement Standard, March quarter 2025, www.superannuation.asn.au/consumers/retirement-standard/
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