How Much Do You Need to Retire on $100,000 a Year?

Find out exactly how much you need to be able to retire on $100,000 per year.

I’ll also show you why people work years longer than they need to and miss out on their best retirement years.

Are you aiming for a retirement income of $100,000 per year?

We’ve crunched the numbers to show you the lump sum required to achieve this retirement income target. Whether you’re single, married or partnered, this video covers how much you’ll need to save to retire at 60 or 65 and how long your money will last.

Once you understand how much you will need to retire on $100,000 per year, you can alter the amount to be more aligned with your specific retirement income needs. Because although $100,000 per year would be nice, do you really need that much to retire?

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⏱ Timestamps
00:00 - How Much Do I Need to Retire on $100,000 Per Year?
00:46 - Standard of Living
02:03 - Amount Required Considerations
02:31 - Retirement Ages & Amount Required
03:31 - Couple vs Single
04:02 - Difference in Retirement Age
04:30 - Excluding Age Pension
05:14 - Why People Work Too Long

😍 Like this video? Please hit the thumbs up button👍 and leave us a comment below. ⏬

**How Much Do I Need to Retire on $100,000 Per Year**

Are you aiming for a retirement income of $100,000 per year?

We’ve crunched the numbers to show you the lump sum required to achieve this retirement income target. Whether you’re single, married or partnered, this video covers how much you’ll need to save to retire at 60 or 65 and how long your money will last.

Once you understand how much you will need to retire on $100,000 per year, you can alter the amount to be more aligned with your specific retirement income needs. Because although $100,000 per year would be nice, do you really need that much to retire?

#SuperGuy #ChrisStrano #Superannuation #RetirementPlanning

DISCLAIMER: The SuperGuy website and SuperGuy YouTube channel contains general advice only. It is not personal advice as it does not take your specific needs or circumstances into consideration. Therefore, you should look at your own financial position, objectives and requirements and seek personal financial advice before making any financial decisions.

General advice is provided by Toro Wealth Pty Ltd trading as SuperGuy Retirement Experts as an Authorised Representative of Core Value FA Pty Ltd (AFSL 480387).

Before acting on any information, you should seek professional advice and verify our interpretation/s before relying on the content or calculators within this website or on the videos, while also considering its appropriateness in relation to your personal situation.

[roberre]

Well, I'm 70 and fully retired for some years now. When I had my 21st birthday my mother told me to start planning my retirement then. Seemed ridiculous at the time but I took her advice and started my investment journey. Its had ups and downs but our income per year now is more than 100K and we live pretty well. A new car every 5 years, private health insurance and two overseas trips a year plus we also have enough to help out the kids with their mortgages. No govt pension of course. The secret, if there is any, is to start early to get the benefit of compounding.

[cameronsmith]

I was smart/lucky enough to get into a defined benefits scheme at age 18 just before the scheme was closed to new entrants. I’ve contributed an average 6% salary for the past 37 years. Now, I’m 5 years away from retiring at 60 with a $2.3M payout. That decision as an 18 year old was the best I ever made.

[intotheblue]

I'm 45, female and retired. I moved out of Australia to be able to do this and live more than comfortably on 50k per year. I started planning in my 30's. It is never too late

[missflix]

We retired at 51 and live on half the amount expected to retire in Aus. We moved overseas of course to do that. Best decision we have ever made

[CadeCowell-ftfe]

I just saved up $100, 000 this last quarter, and i plan to invest it for retirement. what strategies are best to invest in to secure my retirement ?

[slowmads]

We are 70 and 75 and travel full-time. We own no real estate. Our budget is $100K a year (US dollars—we’re Americans). Our social security is 70K a year and we take 30-40K a year from our investments that total $750K. It should last until we join the chorus of the singing void!

[byroncreek]

I’ll be retiring not long after 60, no ifs or buts! I’ve spent most of my working life doing shift work so want that to end as soon as possible. I’ll live my lifestyle according to what I have in super, I should be able to enjoy a few overseas trips and regular domestic travel. That’ll do me!

[JeromeKJones]

FINALLY someone who talks in terms of singles and couples!!!! This was very informative IMHO.

[sweetsweet]

If you are not bothered about being near family and not really going to get much pension then the other consideration is to spend some of those earlier retirement years (e.g 60 to 70) living in South East Asia somewhere (Malaysia/Thailand/Vietnam etc) as your cost of living will be much lower + you get the benefit of relatively lower cost travel. a 5hr radius flight from KL gets you to a lot of cool different cultures to experience / adventure etc. You will need to have private healthcare insurance though. You may find the cost of private healthcare etc reaches a tipping point in which case it may make sense to return to Aus in those later years (75+). And if not living in Aus then you can rent your home out too which can cover a huge portion of your cost of living in S.E Asia. (I am comfortably retired : but my cost of living in SE Asia is < 30k/year and i have a really good lifestyle of keeping fit and healthy and travelling a lot in a safe friendly environment.) KL to Perth isnt too far/expensive to fly if needed.

[theowenssailingdiary]

About 5 minutes before I get put into a retirement home, I'm setting sail NE into the Pacific with tiller lashed - adios! Never ever ever.

[craig]

Perfect and really useful, thanks. I'm 61, will retire at 63 and closing in on $1.6M, with intention of it lasting 20 years. cheers.

[auscop]

Something that you didn't mention here is that as you get older, the less you will generally spend. If you retire at 65, then spending $100k is quite feasible. But as you progress to your 80s and beyond, many people completely slow down. Less travelling, etc. Therefore you would require a lot less money.

[caromarco]

What you said in the last couple of minutes was the most important advice yet I think!

[conalodonoghue]

It would be nice to see some projections where a coupe retires at 60 with spending of $100K pa for the first decade, then living expenses drop $10K-$15K each successive decade. What retirement amount would be required to retire at 60 for this scenario?

[TheRealJBMcMunn]

I don't need $100K. I retired debt-free, have two homes (one is my getaway ranch where I hunt, fish and get drunk listening to the birds singing), two cars, travel (in the last 2 years Germany, Costa Rica, Slovenia, three trips to Italy) and pretty much do what I want. My average monthly expenses are about $5K/ month. I sleep until noon

My nest egg is higher than when I retired.

I learned how to cook as a hobby, which has saved a lot of money. I have also grown my own hydroponic veggies since 2008.

I don't buy expensive cars and I drive them for years. One is 2018 and the other is 2016. The 2016, my ranch truck, has over 150, 000 miles on it.

Before I make significant purchase i ask myself "What problem am I solving?". That one question will stop you from making a lot of frivolous purchases.

[alecbrimacombe]

These Retirement advice videos are so useful Chris - keep them coming !

[BillSaltbush]

I've got enough retirement savings to see me through until the day I die. So long as I die next Tuesday. 🤣😜

[dianeridgway]

Great video! Thanks for including examples where the aged pension is excluded. Not everyone will receive this.

[BEAUTIFULDIANAFRANCIS]

The key to retirement is to Retire, and live a lifestyle that is condolement with your funds but you will need good financial planning.

[justlurkin]

Most people don't understand the costs of Aged Care. They go into a retirement village thinking they will leave in a box or that they won't need care and will stay in the family home until they die. Wrong! Once you are unable to look after yourself, Aged Care is a common solution (not the only one I know) and requires minimum $500K as a deposit, plus a daily fee, which can be hundreds of dollars a day (as well as taking your full pension). OK, so maybe you've spent it all and rely on the pension only, there can be "concession" placement available if you're lucky. However, you don't know when it's going to happen and if you've been planning adequately then you are bound to have assets that are deemable. Just going through this with my father. It's heartbreaking!