Approaching retirement with $520,000 in super? You’re not alone — many Australians near retirement with similar balances and ask the same question:
Can I retire at 60 and still live comfortably?
The short answer: Yes — with a well-structured plan, modest lifestyle, and strategic use of Age Pension.
Let’s explore what retiring with $520K really looks like and how long it can last.
How Long Will $520K Last?
Here’s an estimate of how long $520K in super might last, based on your yearly expenses:
| Annual Spending | How Long $520K May Last |
|---|---|
| $30,000/year | ~20–22 years |
| $40,000/year | ~16–18 years |
| $50,000/year | ~13–15 years |
📉 These projections assume a 2.4% inflation-adjusted return with consistent withdrawals from age 60.
This means your super could reasonably carry you into your late 70s or early 80s — right when the Age Pension could take over as a reliable safety net.
What Does $30K/Year Cover?
If you can manage your lifestyle around $30,000 per year, here’s how that budget may be distributed:
| Category | % of Budget |
|---|---|
| Housing & Utilities | 22% |
| Food & Groceries | 18% |
| Healthcare & Insurance | 15% |
| Transport (fuel, rego) | 13% |
| Leisure & Travel | 10% |
| Clothing & Personal Care | 8% |
| Bills & Communication | 7% |
| Other Essentials & Buffer | 7% |
What Happens at 67? Age Pension Steps In
The Age Pension begins at age 67 and provides ongoing income support — which can significantly reduce pressure on your super:
- Singles: up to ~$28,500/year
- Couples: up to ~$43,700/year
With part or full Age Pension, many Australians cover essentials like food, utilities, and medical costs, giving them more breathing room.
🏠 Who Can Make $520K Work?
You’re in a strong position to retire at 60 with $520K if:
- You own your home
- You’re content with a modest or low-cost lifestyle
- You avoid major lump-sum withdrawals
- You plan to draw down steadily and claim Age Pension at 67
- You get expert help to stretch your dollars and reduce risk
What to Watch Out For
- ❌ Not adjusting for inflation and rising healthcare costs
- ❌ Overspending in the early years
- ❌ Missing Age Pension eligibility or income test strategies
- ❌ Having no buffer for emergencies or market downturns
Is $520K Enough?
Yes — for many Australians, $520K can absolutely support a secure, modest retirement.
It won’t buy you luxury cruises every year, but it can fund a stable, fulfilling lifestyle when combined with smart planning, long-term returns, and government support.
How Wealthlab Helps You Build a Better Retirement
Whether you have $200K or $2 million, a great retirement starts with a smart plan. At Wealthlab, we specialise in turning your savings into confidence and clarity.
Here’s how we help:
✅ Project how long your super will last
✅ Help you build an inflation-proof spending strategy
✅ Show you how to qualify for Age Pension
✅ Map out your budget across 20–30 years
✅ Help you feel prepared, not panicked
Don’t leave your future to chance — let’s make a plan.
Book your free consultation today] and start the path toward a more abundant retirement.