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Can I Afford to Retire?

One of the biggest questions Australians ask is whether they've saved enough to retire comfortably. Use the official ASIC MoneySmart Retirement Planner to estimate your retirement income, then speak with an Amber Wealth adviser to build a personalised retirement strategy.

Launch the MoneySmart Retirement PlannerBook a Complimentary Retirement Review

How Much Do You Need?

Your Superannuation

Your super is likely to be your largest retirement asset.

Your Lifestyle

The amount you need depends on how you want to live during retirement.

Your Income

Your retirement income may come from super, investments, the Age Pension and personal assets.

Estimate Your Retirement Income

Official ASIC MoneySmart Retirement Planner

Estimate your retirement income using Australia's trusted retirement planning calculator. Amber Wealth does not own, operate or control this tool — it is an independent government resource, and the estimate it provides is general in nature and does not constitute personal financial advice.

Launch Official Retirement Planner

Provided by ASIC's MoneySmart website.

What the Calculator Helps You Estimate

Current Super

Future Income

Age Pension Eligibility

Retirement Lifestyle

What Should You Do Next?

1

Estimate Your Retirement Income

Use the MoneySmart Retirement Planner above to get a starting estimate of your projected retirement income.

2

Identify Any Shortfall

Compare your estimated income against the retirement lifestyle you want, and see where the gap might be.

3

Review Strategies to Improve Your Outcome

Explore the retirement strategies below that could help close that gap, from super contributions to Age Pension optimisation.

4

Meet With an Amber Wealth Adviser

Get personalised advice that considers your complete financial picture, not just what a calculator can see.

Explore our retirement planning advice to get started.

Strategies to Improve Your Retirement Outcome

Practical strategies your adviser can tailor to help close the gap between where you are and where you want to be.

Boost Super Contributions

Concessional and non-concessional contribution strategies, including carry-forward rules, to grow your super ahead of retirement.

Transition to Retirement

Access part of your super as an income stream while still working, easing the shift toward full retirement.

Investment Strategy

A portfolio built around your risk profile and retirement timeline, balancing growth with stability.

Tax Planning

Structuring contributions, investments, and drawdowns to manage your tax position before and during retirement.

Age Pension Optimisation

Understanding your eligibility and structuring your assets to make the most of any entitlement available to you.

Retirement Income Planning

Modelling how your super, investments, and other assets convert into a reliable income that lasts.

FAQ

Frequently Asked Questions

How much money you need to retire depends on the lifestyle you want, but ASFA's benchmarks offer a useful guide: roughly $630,000 in super for a single and $730,000 for a couple owning their home, for a comfortable retirement. Your real target also depends on other assets, debts, and whether a part Age Pension supplements your income.

Yes, the MoneySmart Retirement Planner does include the Age Pension — it estimates your entitlement under both the assets and income tests and folds that into your projected retirement income. This matters because many retirees receive a part pension alongside super, so excluding it would understate your actual available income.

If you haven't saved enough to retire on your target date, several levers can help: working a little longer, boosting super contributions, adjusting your investment strategy, trimming discretionary spending, or optimising Age Pension eligibility. The right combination depends on your numbers, so a personalised review shows which change closes the gap fastest.

Yes, you can retire before Age Pension age (currently 67) provided you've reached preservation age and have enough super and other savings to bridge the gap until the pension starts. The main challenge is funding the years before Age Pension kicks in, so we model how your drawdown and returns hold up across that earlier-retirement period.

You should review your retirement plan at least once a year, and after any major life event or sharp market move. Retirement projections rest on assumptions — investment returns, inflation, legislation, your spending — that drift over time, so an annual check keeps your plan realistic and lets you adjust before a small gap becomes a serious shortfall.

You can't know your lifespan in advance, but longevity modelling tests your savings against different life expectancies — for example, to age 90 or 95 — using varied withdrawal rates and market conditions. Stress-testing this way shows whether your strategy survives a long retirement, which is the core question the MoneySmart Planner helps answer.

A comfortable retirement funds a broader lifestyle — occasional travel, better food, a reasonable car — while a modest retirement covers basics with limited extras. ASFA puts the comfortable standard at roughly $73,000 a year for a couple and the modest standard at about $47,000, both assuming you own your home (figures updated quarterly).

Ready to Know if You're Retirement Ready?

Online calculators are a great starting point, but they can't consider your complete financial situation. Our advisers can help you build a personalised retirement strategy tailored to your goals.

Book a Complimentary Retirement Review03 9964 0718