How much is enough to retire in Australia?

How much super do you really need to retire comfortably? It's one of the biggest questions Australians ask when planning for retirement. Is it $1 million, or could you retire comfortably with less? And how do you know if you're on track? In this episode of In the Hammock, David ‘Kochie’ Koch and Peter Hoban from Brighter Super break down how much super you may need in retirement. From lifestyle and spending goals to the Age Pension and retirement income strategies, they share practical retirement planning insights, common mistakes to avoid and simple ways to check if you're on track. Whether you're approaching retirement or planning ahead, this episode will help you better understand how much super you may need and how to prepare for retirement with confidence. WATCH TO LEARN: 00:00 How much super do you need to retire in Australia? 01:37 ASFA Retirement Standard: Weekly and Monthly budgets 04:47 ASFA Retirement Standard: Modest vs Comfortable retirement 05:37 How much money you may need to retire – Singles vs Couples 07:20 Turning super into retirement income (i.e. account-based pension) 09:17 Retiring with $300K, $500K or $1 million and the impact from the Age Pension 09:55 Growing your superannuation with salary sacrifice and extra contributions 12:50 Retirement income calculator and ‘What age can I retire?’ calculator 13:39 Common retirement mistakes and the importance of Super Health Checks 14:34 When can you access your super? 15:00 Managing investment risk and making your super last in retirement 15:53 Retirement planning tips and key takeaways If you found this video helpful, click the thumbs up and subscribe for future episodes. USEFUL LINKS Retirement income calculator – https://www.brightersuper.com.au/reso... What age can I retire? Calculator – https://www.brightersuper.com.au/reso... Super Health Check – https://www.brightersuper.com.au/supe... ASFA Retirement Standard – https://www.superannuation.asn.au/con... Retirement Guide - https://www.brightersuper.com.au/-/me... PRESENTERS David Koch – Retirement Advocate Peter Hoban – Member Account Manager, Brighter Super DISCLAIMERS ASFA Retirement Standard, Weekly and Monthly Budgets for those aged 65-84. Updated March 2026. https://www.superannuation.asn.au/wp-... ASFA Retirement Standard, Superannuation Balances required at age 67 for a modest and comfortable retirement. Updated February 2026. 260223-ASFA-Retirement_Standard-Summary.pdf See ASFA Retirement Standard for assumptions and methodology at https://www.superannuation.asn.au/con... You need to meet a condition of release before you can withdraw your super after age 60. Member example shared is for illustrative purposes only and does not factor in fees or investment returns. Brighter Super Trustee (ABN 94 085 088 484) (AFSL 230511) (the Trustee) as trustee for Brighter Super (ABN 23 053 121 564) (RSE R1000160) (the Fund). Brighter Super may refer to the Trustee or the Fund as the context may be. Brighter Super products are issued by the Trustee on behalf of the Fund. The information contained is up to date at the time of publishing and may change. This podcast may contain general advice, which has been prepared without taking into account your individual objectives, financial situation or needs. Consider the appropriateness of the advice to your objectives, financial situation and needs before acting on the advice. Brighter Super representatives and partners are authorised to provide advice on Brighter Super products and superannuation in general. See our Financial Services Guide (FSG) for more information. You should also obtain and consider the Product Disclosure Statement (PDS) before making any decision to acquire any product or contribute additional amounts to your Brighter Super account. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the PDSs and TMDs at https://brightersuper.com.au/pds.