Work backwards. Think about how much you’d realistically like to spend each year in retirement, then estimate how long you might need that income. Factor in regular bills, health care, leisure, and housing—will you still be renting? Paying off a mortgage? Downsizing? Understanding your expected costs helps you put your savings target into context.
Consider Retirement Age Flexibility
Many people assume they’ll retire at a certain age—usually 65—but the reality is more fluid. Some choose to work part-time into their late 60s, while others aim to retire early. The age you retire impacts both how long your savings need to last and when you can access your super.
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