How Much Money Do You Need to Retire at 60?
Retiring at 60 is a major goal for many Canberra professionals, especially APS employees who may want more lifestyle freedom before 67. But retiring early means funding a longer retirement period—often 25–30+ years.
What Income Do You Need?
Most Canberra retirees aim for $70k–$90k per year from age 60.
For singles and couples, the cost of living in Canberra often runs 10–15% higher than the national average.
How Much Super Do You Need?
Assuming conservative returns from early in retirement:
Annual Income Super Required
$70,000 pa - $1,100,000
$80,000 pa - $1,250,000
$90,000 pa - $1,400,000
Why Retiring Early Costs More?
Longer draw down period
Delayed age pension eligibility (Age 67)
Inflation risk
Market volatility
Strategies To Retire at Age 60
1. Salary sacrifice to reduce tax and boost contributions
2. Increase spouse contributions to equalise balances
3. Use Transition to Retirement (TTR) strategies wisely
4. Build an outside-super investment bucket
5. Review your investment risk tolerance
With the right strategy, retiring at 60 is realistic for many Canberra households.
At Access Wealth Group, we help retirees across Canberra transition to retirement confidently. Talk to us about optimising your Canberra retirement planning.
This article is of a general nature only and does not take into account your individual financial circumstances, objectives, or needs. It does not constitute personal financial advice. You should not act on any of the information provided without first seeking professional financial advice that considers your personal situation.
Access Wealth Group, Suite 2, Chisholm Shopping Village, 74 Halley Street, Chisholm ACT 2905 Phone: 0410 443 742 | Email: brendan@accesswealthgroup.com.au