How much do I need to retire?

The number one question I’m asked in new client meetings is: “How much do I need to retire?”

My response is always: “How much do you want to spend each year in retirement?”

For many people, that’s a surprisingly hard question to answer.

A helpful starting point is the ASFA Comfortable Retirement Standard. It gives a benchmark for the minimum annual cost of a comfortable lifestyle in retirement. From there, you can layer in the things that matter to you, like travel, hobbies, family time, or the experiences you want to enjoy in your early retirement years.