If you’re approaching 60 with $450,000 in your super, you’re probably wondering: can I retire at 60 with $450K?
The short answer is yes, potentially, but your lifestyle, spending habits, and financial plan will make all the difference.While $450K isn’t a ticket to a luxurious retirement, it can absolutely support a modest, secure lifestyle especially when paired with smart investment returns and Age Pension support once you reach 67.
What Does $450K Really Mean at Retirement?
Your $450,000 balance can last quite a while if managed carefully.
Here’s a realistic estimate of how long $450K might last, depending on your annual spending:
| Annual Spending | How Long $450K May Last |
|---|---|
| $30,000/year | ~17–19 years |
| $40,000/year | ~13–15 years |
| $50,000/year | ~10–12 years |
These estimates assume:
- Inflation-adjusted investment returns of ~2.4% annually
- No major lump-sum withdrawals
- Super accessed from age 60 onwards
💡 This means your super could sustain you into your late 70s, by which point the Age Pension may begin supplementing your income at 67.
Sample Budget for a Modest Retirement
Here’s an example of how a $30,000 annual retirement budget might be divided:
| Category | % of Budget |
|---|---|
| Housing & Utilities | 22% |
| Food & Groceries | 18% |
| Healthcare & Insurance | 15% |
| Transport (fuel, rego, maintenance) | 13% |
| Leisure & Travel | 10% |
| Clothing & Personal Care | 8% |
| Bills & Communication | 7% |
| Other Essentials & Buffer | 7% |
.
This kind of budget keeps essentials covered while still allowing for occasional leisure and travel a realistic target for many retirees with $450K.
Will the Age Pension Help?
Yes once you reach 67, you may be eligible for the Age Pension, depending on your income and assets.
In 2025, the maximum Age Pension rates are approximately:
- Singles: up to ~$28,500 per year
- Couples (combined): up to ~$43,700 per year
If you’re eligible, the Age Pension can cover a large portion of your basic living expenses.
Your super can then be used to fund discretionary spending like travel, hobbies, or medical extras.
Lifestyle Considerations
Successfully retiring at 60 with $450K depends on how you live and spend.
Generally, this plan assumes:
✅ You own your home or have minimal rent/mortgage costs
✅ You’re comfortable with a modest lifestyle (limited luxury travel or big purchases)
✅ You have little to no debt entering retirement
✅ You use your super strategically not all at once
💡 Example: If you draw $40,000 per year from your super for seven years (until Age Pension kicks in), you’ll use around $280,000 leaving roughly $170,000 invested to continue generating returns.
This Line chart showing super balance depletion over time at 3 different spending levels ($30K, $40K, $50K).
Common Mistakes to Avoid
Avoiding these pitfalls will make your $450K stretch further:
❌ Overestimating how far your savings will go many underestimate inflation and living costs.
❌ Ignoring healthcare inflation medical and insurance costs rise faster than general prices.
❌ Missing out on Age Pension eligibility small asset or income adjustments can increase your entitlements.
❌ Taking lump sums too early large withdrawals for cars, renovations, or holidays can shorten your income lifespan.
Tip: Work with a financial planner to balance drawdowns with ongoing investment growth.
How Much Super Do I Need to Retire Comfortably in Australia – Explore ASFA’s comfort standards and real-life income projections.
Is $450K Enough to Retire at 60?
Yes but only if you plan smartly.
With disciplined budgeting and a mix of super income, investment returns, and Age Pension support, retiring with $450K is realistic.
You can make it work if you:
- Maintain a modest lifestyle
- Control expenses during early retirement years
- Avoid unnecessary withdrawals
- Use your super strategically to maximise longevity
In many cases, retirees who own their home and manage spending well can maintain a comfortable, independent lifestyle without financial stress.
Wealthlab Helps You Turn $450K into a Confident Retirement
Retiring at 60 with $450K is possible but doing it with confidence and clarity requires the right plan.
At Wealthlab, we help Australians:
✅ Calculate how long their super will last
✅ Build realistic annual spending plans
✅ Optimise Age Pension eligibility
✅ Project healthcare and lifestyle costs
✅ Maximise investment returns while managing risk
Your $450K can be the foundation for a well-lived, financially secure retirement with the right strategy.
👉 Book your free consultation today and take the first step toward an abundant, confident retirement.