The amount you need in super depends largely on the kind of lifestyle you envision.

• A modest lifestyle covers basic living expenses but offers little room for luxuries.
• A comfortable lifestyle allows for greater financial flexibility, including leisure activities, private health insurance, and occasional travel.

To sustain different lifestyles in retirement, an appropriate super balance is necessary.

• For a modest retirement, singles and couples require at least $100,000 in super, supplemented by the Age Pension.
• For a comfortable retirement, a single retiree should aim for around $595,000, while couples need approximately $690,000.

These figures assume homeownership and good health.

Retiring at 60 means your retirement savings need to last for at least 20 - 25 years. When assessing your financial needs, consider:

• Your health and potential medical expenses
• The stability of your employment before retirement
• Your family’s financial situation
• Any outstanding debts or financial obligations
• Large planned expenses such as travel, home renovations, or aged care needs
• Potential eligibility for the Age Pension