The cost of retirement

Each quarter the Association of Superannuation Funds of Australia (ASFA) releases calculations on the cost of a comfortable retirement. If you see yourself living a ‘comfortable’ retirement, find out how much income from super you might need to achieve this lifestyle.

It’s the magic figure everyone wants to know - how much money will I need to fund my retirement? The question is impossible to answer definitively because everyone's needs and retirement ambitions are different. Someone who loves growing their own vegetables and gardening at home, for example, may need less money than someone intent on travelling to every country on Earth before they enter the departure lounge for the last time.

The Association of Superannuation Funds of Australia (ASFA) has been tracking retirement costs for more than a decade and has come up with some benchmark figures that are very useful in planning for your post-working life.