There isn’t a single number that suits everyone. The amount you need depends on your lifestyle expectations, housing situation, health, travel plans and whether you expect to receive any Age Pension benefits.
For some people, a modest lifestyle may require significantly less than someone planning frequent travel or supporting family members.
Rather than focusing solely on a lump sum figure, retirement planning looks at how much income you’ll need each year — and whether your assets can sustainably provide that income over time.
Modelling different scenarios helps answer the real question: Will my money support the lifestyle I want?
