The Real Answer to “Do I Have Enough to Retire?”

Arlan Davine • October 19, 2025

Most Australians reach a point where they quietly wonder, “Do I have enough to retire?”
It’s one of the biggest financial questions people ask — and for good reason. Retirement isn’t what it used to be. People are living longer, the cost of living keeps rising, and superannuation balances don’t always stretch as far as we’d like.


The good news? Working out whether you have enough to retire comfortably in Australia doesn’t have to be confusing. It starts with understanding what “enough” really means for you.


What Does “Enough” Really Mean in Retirement?

“Enough” isn’t a single dollar figure that fits everyone. It depends on your lifestyle, goals, health, and family situation.


For some, enough means living modestly, spending time with family, and having a simple holiday each year. For others, it means regular travel, helping the kids financially, or buying a caravan to see the country.


According to the Association of Superannuation Funds of Australia (ASFA), a comfortable retirement currently requires around $72,000 per year for couples or $51,000 for singles. But that’s just a guide — not a goalpost.


How Much Super Do You Need to Retire Comfortably in Australia?

A common question we hear at Elevate Financial Planning is, “How much super do I need to retire?”


As a rough guide:

  • A couple aiming for a comfortable lifestyle might need around $690,000 in combined super.
  • A single person might need around $595,000.


But these figures assume you own your home and receive part of the Age Pension. If you rent or want more flexibility, you’ll need a larger balance — or a well-structured income plan.


What really matters is how your super, investments, and cashflow work together to fund the life you want — not just the total amount in your super fund.


Other Factors That Shape Your Retirement Income

Your super balance is only one piece of the puzzle. The amount you’ll actually need depends on several key factors:

  • Your spending habits: What does your ideal week in retirement look like?
  • Your retirement age: Retiring earlier means your money needs to last longer.
  • Investment returns: Keeping money invested wisely during retirement helps it last.
  • Centrelink entitlements: The Age Pension can play an important supporting role.
  • Inflation and tax: Both can quietly reduce your spending power over time.


When we create retirement plans for clients, we look at all of these moving parts — not just the super statement.


Common Myths About Retirement Readiness

  1. “Once I stop working, I’ll spend less.”
    Many people actually spend more early in retirement, enjoying their freedom while they’re still active.
  2. “The Age Pension will cover me.”
    It helps, but it’s not designed to fund a comfortable lifestyle on its own.
  3. “It’s too late to make a difference.”
    It’s almost never too late — even small changes in how you invest or draw income can extend your retirement savings significantly.


How a Financial Planner Helps You Find Your ‘Enough’ Number

A financial planner doesn’t just crunch numbers — we help you see the full picture.

At Elevate Financial Planning, we:
✅ Help you define what a comfortable life looks like for you.
✅ Analyse your super, investments, and potential Age Pension entitlements.
✅ Model different retirement ages and income scenarios.
✅ Create a clear, flexible plan that adapts as life changes.


Our goal is simple: to turn uncertainty into clarity so you can retire with confidence — not guesswork.


Next Steps: Turning Your Plan into Confidence

If you’ve ever wondered “Do I have enough to retire?”, now’s the perfect time to find out.

You don’t need to have everything figured out — that’s what we’re here for.


For personalised financial services and advice, speak with your Financial Advisor today at Elevate Financial Planning


We’ll help you understand where you stand, what’s possible, and how to build a plan that gives you peace of mind.

How to Grow and Protect Your Super for Life
By Arlan Davine October 14, 2025
Discover how we can help you grow your super more effectively, optimise your Centrelink entitlements, and create reliable income for retirement.
Comparing super funds in Australia with Elevate Financial Planning Geelong
By Arlan Davine October 5, 2025
Not all super funds are equal. Learn how to compare super funds and choose the right one with guidance from Elevate Financial Planning in Geelong.
Geelong financial advisor
By Arlan Davine September 29, 2025
Looking for trusted financial planning in Geelong & the Surf Coast? At Elevate Financial Planning we help locals with wealth building, debt strategy, super & protection advice.
Wondering if you need a financial advisor?
By Arlan Davine September 22, 2025
Wondering if you need a financial planner? Discover 7 clear signs it’s time to seek financial advice. Serving Geelong, Surf Coast & clients across Australia.
Financial Planning | Aged Care | Advice
By Arlan Davine September 15, 2025
Discover a real family’s journey through aged care costs in Australia. Learn about RADs, DAPs, daily
By Arlan Davine September 11, 2025
Today is R U OK? Day , a powerful reminder to check in on the people around us and have conversations that could make a real difference. While we often think about mental health in terms of emotions or relationships, one of the biggest and most common stressors in Australia is money. According to Beyond Blue, financial worries are one of the top contributors to stress and anxiety for Australians. Yet, despite how common it is, money is still a taboo topic. Many people feel uncomfortable talking about it, which only increases the pressure. The truth is simple: mental health and financial health are closely connected. When one suffers, the other often follows. The Link Between Money Stress and Mental Health Money stress isn’t just about not having enough – it can stem from many areas: credit card debt, interest rates, unexpected expenses, or even feeling unprepared for the future. Over time, this financial pressure can affect: Sleep – worrying at night about bills or repayments. Relationships – arguments or tension around money. Work performance – stress and distraction can impact focus. Overall wellbeing – a constant sense of being overwhelmed. At the same time, when mental health takes a hit, finances can become harder to manage. Things like budgeting, paying bills on time, or planning ahead can feel overwhelming when you’re not in the right headspace. This creates a cycle that's difficult to break. Why Talking About It Matters R U OK? Day is about starting conversations that matter – and money is absolutely one of those. Talking about financial stress doesn’t mean you’ve failed. It means you’re human. When we break the silence around money and mental health, we create space for: Support – whether that’s emotional or practical. Solutions – finding ways to ease the burden. Relief – knowing you don’t have to carry the load alone. Sometimes just saying out loud, “I’m feeling stressed about money,” can lift some of the weight. Small Steps That Make a Big Difference You don’t need to overhaul your entire financial life to reduce stress. Often, it’s the small wins that create breathing space and help restore confidence. Here are a few simple starting points: Create a Budget Buffer Even setting aside $20 a week into a separate account can provide a safety net for unexpected costs. It’s less about the amount and more about building the habit. Talk to Someone You Trust This might be a partner, a friend, or a professional. Sometimes an outside perspective helps you see options you hadn’t considered. Focus on One Thing at a Time If you’ve got debt, bills, or savings goals piling up, choose one priority and work on that first. Small progress leads to momentum. Reach Out for Professional Help Just as you’d see a GP for your health, a financial planner or counsellor can help with money worries. It’s not about judgement – it’s about finding strategies that fit your situation. How to Support Someone Who’s Struggling If you notice a friend or loved one seems weighed down by stress, a simple check-in can make a world of difference. Try asking: “I’ve noticed you seem a bit stressed lately, are you OK?” “Money stuff can be tough at the moment – do you want to chat about it?” You don’t need to have all the answers. Just being there, listening without judgement, and encouraging them to seek support if needed can be incredibly powerful. A Final Word for R U OK? Day Money stress affects millions of Australians, but it doesn’t need to be faced in silence. Just as we’re encouraged on R U OK? Day to ask the question and start a conversation about mental health, we can extend that same compassion to conversations about financial wellbeing. If you’re feeling the weight of financial stress, remember you don’t have to go through it alone. And if you know someone who may be struggling, reaching out with a simple “Are you OK?” could be the start of real change. Let’s keep these conversations going – not just on R U OK? Day, but every day! For personalised financial services and advice, speak with your Financial Advisor today at Elevate Financial Planning - Arlan Davine
How Much Super Do I Need to Retire comfortably?
By Arlan Davine September 4, 2025
Wondering how much super you need to retire comfortably in Australia? Learn the benchmarks, factors and tips to boost your super with Elevate.
Remote Financial Advisor
By Arlan Davine August 28, 2025
Discover how Elevate Financial Planning stands out with personalised ongoing support, clear communication, tailored advice, and flexible in-person or remote meetings.
Active vs passive investing
By Arlan Davine August 22, 2025
Compare active vs passive investing for everyday Australians—from costs and flexibility to returns. Elevate helps you choose the right strategy for your goal
Childhood Trauma Insurance
By Arlan Davine August 16, 2025
Childhood trauma insurance provides a lump-sum if your child faces a serious illness or injury. Learn how it protects families both emotionally and financially.
Show More