Can I Retire at 60 with $460k? A super balance of $460,000 at retirement is quite common for Australians approaching their 60s. Even if you don’t have exactly $460K in super, your other assets like savings, investments, or property might bring your net worth close to this figure. The key question is: Can you retire comfortably at 60 with $460K?
In this guide, we’ll explore whether $460K is sufficient to retire in Australia, how long it can last, the lifestyle it can support, and strategies to optimise your retirement income.
Is $460K Enough to Retire at 60 in Australia?
Retiring at 60 with $460K is possible, especially if you:
- Own your home outright or have minimal mortgage debt
- Maintain a modest spending plan
- Structure your retirement drawdowns carefully
However, you’ll need your super to last at least seven years until you are eligible for the Age Pension at 67, after which your retirement income can be supplemented. Proper planning is crucial to ensure your $460K stretches through your retirement years.
How Long Will $460K Last?
The longevity of $460K in retirement depends on your annual spending and investment returns. Assuming a real return of ~2.5% per year (net of inflation), here’s a rough guide:
| Annual Spending | Estimated Longevity |
|---|---|
| $20,000/year | ~25–27 years |
| $25,000/year | ~21–23 years |
| $30,000/year | ~18–20 years |
This indicates that with $460K, your super could support you into your mid-to-late 80s or early 90s depending on spending habits and investment performance.
What Lifestyle Can $460K Support?
With careful planning, retiring at 60 with $460K can still allow for:
- Essential living expenses (utilities, groceries, insurance)
- Healthcare costs and medical contingencies
- Transport and vehicle maintenance
- Modest domestic travel and hobbies
- Occasional dining out and leisure activities
Suggested Budget Breakdown (for $28K/year)
| Category | % of Budget |
|---|---|
| Food & Utilities | 30% |
| Housing Costs | 20% |
| Healthcare | 20% |
| Transport | 10% |
| Leisure & Travel | 15% |
| Contingency/Emergencies | 5% |
Retiring at 55, 60, and 65 With $460K
Let’s examine how retirement age impacts your income:
Can I Retire at 55 With $460K?
Yes, but super can’t be accessed until age 60. You’ll need five years of income outside super. $460K could provide an estimated $32,000/year (single) or $38,000/year (couple) until age 95, assuming moderate investment growth and inflation adjustments.
Can I Retire at 60 With $460K?
At 60, you can access super tax-free through a superannuation income stream. Plus, when you turn 67, you may qualify for the Age Pension, reducing reliance on your own savings. Retiring at 60 with $460K could provide $36,000/year (single) or $44,000/year (couple) until age 95.
Can I Retire at 65 With $460K?
Waiting until 65 means fewer years of super drawdowns and near-immediate eligibility for the Age Pension. Retirement income could rise to $44,000/year (single) or $54,000/year (couple), allowing for more comfort and flexibility.
For context, the ASFA 2025 retirement standard suggests:
| Lifestyle | Single | Couple |
|---|---|---|
| Modest Lifestyle | $32,915 | $47,387 |
| Comfortable Lifestyle | $51,630 | $72,663 |
To compare, see our guide on How to Retire with $510K in Australia for further insights.
How to Retire on $460
To make $460K work in retirement, follow these steps:
- Calculate Your Retirement Income Needs – Determine how much you need per year to live comfortably (e.g., $35,000).
- Determine Investment Returns Required – Reverse engineer the returns required to meet your income goals, considering inflation and Age Pension eligibility.
- Select Appropriate Investment Options – Choose a mix of growth and defensive assets in super to balance risk and returns.
- Monitor and Adjust – Regularly review your retirement plan to adapt to changes in market conditions, health, or lifestyle.
What Happens at Age 67?
Once eligible for the Age Pension, you could receive:
- ~$28,500/year for singles
- ~$43,000/year for couples
This reduces reliance on your super, extends its longevity, and provides flexibility to handle unexpected expenses or lifestyle changes.
Additional Factors to Consider
Even with $460K, retirement success depends on:
- Investment performance and market volatility
- Inflation and rising living costs
- Health and unexpected medical or long-term care needs
- Lifestyle choices, travel plans, and family support
Other strategies to protect your super include phased retirement, part-time work, or small side incomes, which can reduce pressure on your savings.
FAQs
Is $460K enough to retire on in Australia?
Yes, with careful planning and budgeting, $460K can support a modest to comfortable retirement, especially with Age Pension benefits.
How long will $460K last in retirement?
Depending on annual spending, $460K could last 18–27 years or longer if managed carefully.
Can I retire at 60 with $460K and still enjoy a comfortable lifestyle?
Yes, particularly if you own your home, budget wisely, and optimise investment and Age Pension strategies.
How much income can $460K generate?
Investments could generate between $14,000–$38,000 per year depending on risk profile and returns.
See how to retire with $510K in Australia for further planning tips.
How Wealthlab Can Help You Retire with Confidence
Wealthlab helps Australians:
✅ Stretch their super with tax-efficient drawdown strategies
✅ Combine Age Pension and super for maximum efficiency
✅ Plan for inflation, market fluctuations, and healthcare costs
✅ Align retirement planning with personal lifestyle goals
With the right plan, $460K can provide decades of security and comfort, even if you retire at 60.
📅 Book your free retirement strategy session today, and let Wealthlab help you turn your $460K into a retirement you can truly enjoy. today — and let us help you unlock a more abundant future.