Retiring at 60 with $460,000 in super may not sound like a fortune, but for many Australians, it’s enough to secure a comfortable and strategic retirement — if you plan wisely . This guide explores how far $460K can go, what kind of lifestyle it can support, and how to make it work for your retirement goals.
Is $460K Enough to Retire?
At 60, you can access your superannuation, but keep in mind — you won’t qualify for the Age Pension until 67. That means your super must cover at least 7 years of income before any government assistance kicks in.
If you:
Own your home
Live a modest or semi-frugal lifestyle
Strategise your drawdown carefully
Then yes — $460K can absolutely form the foundation of a sustainable retirement.
How Long Will $460K Last?
Here’s how your super could perform depending on your lifestyle and spending choices:
Annual Spending | Estimated Longevity |
---|---|
$20,000/year | ~23–25 years |
$25,000/year | ~19–21 years |
$30,000/year | ~16–18 years |
These figures assume modest investment returns (~5%) and inflation (~2.5%) — with a real return of ~2.4%.
What Kind of Lifestyle Can You Afford?
With a $25K–$30K/year lifestyle, you can afford:
- Groceries and household expenses
- Local travel and leisure
- Basic healthcare needs
- Utilities, rates, insurance
- Modest entertainment
This assumes you’re mortgage-free and benefit from senior discounts and concessions.
Suggested Pie Chart Breakdown (for $25K Budget)
Category | % of Budget |
---|---|
Essentials (food, bills, health) | 55% |
Discretionary (travel, hobbies) | 20% |
Home & maintenance | 15% |
Emergencies & buffer | 10% |

What Happens at 67?
Once you reach Age Pension age:
- You could receive up to $28,500/year (single) or $43,000/year (couple)
- This significantly reduces pressure on your super fund
- Your super can then be used to top-up income or handle unexpected costs
With the right planning, your super just needs to get you to 67 — then Centrelink can help from there.
Important Considerations
Investment returns vary — and impact longevity
Early overspending is the #1 risk
Healthcare costs can rise in later years
Inflation eats into your purchasing power
This is why generic advice falls short — your retirement needs a plan tailored to your numbers, goals, and lifestyle.
Wealthlab Helps You Make $460K Work Harder
Many Australians believe they need $1M+ to retire — but the truth is, you can retire well on less… if you have the right strategy.
At Wealthlab, we specialise in helping people:
Structure tax-efficient drawdowns
Maximise their super potential
Bridge the gap until Age Pension
Protect against financial risks
Enjoy a sustainable and meaningful retirement
You Don’t Need More Super — You Need the Right Plan
You might already have what you need — you just need to use it wisely.
At Wealthlab, we don’t just advise. We build retirement strategies that deliver peace of mind and help you live better with what you have.
Book your free retirement strategy session today — and let us help you unlock a more abundant future.