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What is a comfortable retirement in Australia?


We all look forward to the day that we can retire and enjoy the fruits of our labour. But what exactly constitutes a comfortable retirement in Australia? With varying lifestyles and financial situations, defining comfort in retirement can be subjective. However, there are certain benchmarks and considerations that can help paint a clearer picture of what a comfortable retirement might entail in Australia.

Financial stability

One of the key factors in determining a comfortable retirement is financial stability. This involves having enough income to cover your living expenses and enjoy leisure activities without constantly worrying about money. The Association of Superannuation Funds of Australia (ASFA) regularly publishes retirement standard benchmarks that outline the income needed to achieve a comfortable lifestyle in retirement. According to ASFA, a comfortable retirement for a single person requires an annual income of around $44,412, while for a couple, it’s approximately $62,828.


Housing plays a significant role in retirement comfort. Many Australians aim to own their homes outright by the time they retire, which eliminates the burden of mortgage or rent payments. Additionally, downsizing to a more manageable property or location can free up equity for retirement expenses or leisure activities. Retirement villages like St Ives can offer many benefits as retirees can choose from a range of housing options and enjoy access to a variety of amenities like gyms, clubhouses and restaurants. 

If you’re interested to find out more about what it’s like to live in a retirement village, enquire today to get in touch with our staff. 


Access to quality healthcare is essential for a comfortable retirement. Australia’s public healthcare system, Medicare, provides basic medical services at low or no cost to residents. However, many retirees opt for private health insurance to cover additional services not covered by Medicare, such as dental, optical, and specialist treatments. Having adequate health coverage can alleviate financial stress related to medical expenses and ensure retirees receive timely and quality healthcare.

Leisure and social activities

Retirement should be a time to enjoy hobbies, travel, and socialise with friends and family. A comfortable retirement often includes budgeting for leisure activities and maintaining social connections to promote mental and emotional well-being. Whether it’s joining clubs, volunteering, or pursuing lifelong passions, having the means and opportunities to engage in fulfilling activities can greatly enhance retirement satisfaction.

Financial planning

Planning for retirement well in advance is crucial for achieving a comfortable lifestyle later in life. This includes contributing to superannuation (Australia’s retirement savings system), investing wisely, and seeking professional financial advice to optimise retirement savings and minimise taxation. 

Cost of living

The cost of living varies across Australia, with expenses such as groceries, utilities, and transportation differing between cities and regions. Retirees should consider their preferred lifestyle and location when budgeting for retirement. Downsizing to a more affordable area or adopting cost-saving measures can help stretch retirement savings further and maintain a comfortable standard of living.

To summarise, a comfortable retirement in Australia is characterised by financial stability, adequate healthcare, housing security, and opportunities for leisure and social engagement. By planning ahead, managing finances wisely, and prioritising health and well-being, you can strive towards a retirement that provides the freedom and satisfaction you deserve after years of hard work.