How much do you need to retire?
A comfortable retirement in Sydney costs about $58,000/year — nearly 53% more than regional Queensland. Pick your city and see your number — then let Richify build the plan to reach it.
Sydney
$1.45M
Melbourne
$1.3M
Adelaide
$1.1M
Regional QLD
$950K
Age Pension (single)
$31,223
Your super today
$150,000
grows to ~$932K by 67 at 7%
Gap (with Age Pension)
On track ✓
Projected to reach your number
Choosing a lower-cost city can cut your required super by hundreds of thousands of dollars. Sources: ASFA Retirement Standard, ABS Cost of Living. Assumes you own your home (no rent/mortgage).
How much do you need to retire in Australia?
The standard national answer is ASFA's: $630,000 at 67 for a single homeowner and $730,000 for a couple, funding a comfortable retirement of $55,923 a year single or $78,566 a year as a couple. A modest retirement costs $36,434 a year single.
Two things make your own number lower than that headline. The Age Pension pays up to $31,223 a year for a single homeowner (20 Mar – 19 Sep 2026), so you only self-fund the gap — and where you retire moves the target a long way. A comfortable retirement runs about $58,000 a year in Sydney against $38,000 in Regional QLD.
Pick your city and lifestyle below to see your own number, after the pension offset, at a 4% drawdown.
You're on track for this city — keep compounding.
Richify turns your number into a plan — how much to add each month, salary sacrifice, and the Age Pension — and tracks it every payday.
Cost of retirement by Australian city
Annual cost and the super you'd need at a 4% drawdown (homeowner, no rent/mortgage). “With Pension” shows the self-funded portion after the single Age Pension.
Sources: ASFA Retirement Standard, ABS Cost of Living. Age Pension: $31,223/yr single (max rate, 20 Mar – 19 Sep 2026). Figures assume a homeowner; add $15,000–$30,000/yr if renting.
Sydney vs regional: the 53% gap
A comfortable retirement in Sydney costs $58,000/year vs $38,000 in regional Queensland — a 53% difference. Over a 25-year retirement that's an extra ~$500,000 in required savings. For many Australians, a move to a lower-cost city (or a sea-change) is the single most impactful retirement decision.
The Age Pension does a lot of the work
The Age Pension at 67 sharply reduces what you must self-fund. In Adelaide, a comfortable retirement costs $44,000/year; the pension covers $31,223, leaving just $12,777/year to self-fund — about $319,425 in super at a 4% drawdown, far below the headline ASFA figure.
Frequently asked questions
How much do you need to retire in Sydney?+
Retiring comfortably in Sydney requires approximately $58,000/year in living expenses. At a 4% withdrawal rate, you need a retirement portfolio of ~$1,450,000. If eligible for the full Age Pension ($31,223/year for singles from age 67, on the 20 March – 19 September 2026 rates), the required self-funded amount drops to ~$669,000.
What is the cheapest city to retire in Australia?+
Regional Australia is the most affordable option at ~$38,000/year for a comfortable retirement (requiring ~$950,000 in super at 4% withdrawal). Among capital cities, Adelaide ($44,000/year, ~$1.1M needed) and Hobart ($45,000/year, ~$1.125M) are the most affordable.
Does cost of retirement include rent or mortgage?+
These figures assume you own your home outright (no rent/mortgage), which is the standard ASFA assumption. If you're renting in retirement, add $15,000-$30,000/year depending on the city — significantly increasing both the annual cost and total required balance.
How does the Age Pension reduce retirement costs?+
The Age Pension provides $31,223/year (single) or $47,070/year (couple combined) from age 67 on the 20 March – 19 September 2026 rates, subject to assets and income tests. If your assessable assets (excluding the family home) are below $333,000 for a single homeowner — $499,000 for a homeowner couple, on the 1 July 2026 thresholds — you receive the full pension. This can reduce the self-funded portion by 40-60%.
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The Age Pension figures above change on 20 September 2026, and not all in the same direction. Maximum rates rise $36.80 a fortnight for singles and $55.60 for couples combined, while the deeming rates rise 0.5 percentage points each, to 1.75% and 3.75%. Deeming counts only in the income test, so full-rate and assets-tested pensioners keep the whole rise, but an income-tested single holding more than about $382,700 in financial assets ends up worse off, not better — about $578,200 for a couple. That shifts the self-funded portion of every city figure on this page.
Know your number — and how to reach it.
Add your super once, pick your city — Richify shows your retirement number and the monthly plan to get there. Free on iOS and Android.
Get Richify freeSources: ASFA Retirement Standard, ABS Cost of Living, Services Australia (Age Pension). Estimates assume a homeowner and a 4% drawdown — for education only, not financial advice. © 2026 Richify.
