How Much is Enough?

After releasing the Retirement Lifestyle Worksheet I have had many questions about How much is Enough?.  So I thought I would try and answer that question here.

If you have not done so already you can download out Retirement Lifestyle Worksheet by clicking here>>  It’s a worksheet you can use to design your own Next Adventure (aka retirement), know what you will require to fund it and know the gap you will need work towards filling.  It’s the first step in achieving your Next Adventure without the money worries.

For everyone it is going to be different, it’s like asking how long is a piece of string.

What works for one does not necessarily work for the other.

But let’s start with what is having enough really mean.

Does it mean enough to fund all your lifestyle expenses and a few luxuries along the way?

Does it mean the opportunity to make decisions about whether you continue to work any further or decide to move to part-time work while you pursue other interests?

Or does it mean enough to fund your next adventure (aka retirement) comfortably and leave a legacy to the kids?

It’s going to mean different things to different people.

But when I think about How much is enough for me, it would be enough money to fund a comfortable lifestyle, nothing too fancy but allow the luxuries I enjoy from time to time.  It would be enough for me to travel extensively and enough for me to help my children out financially if they needed.

I have a number that would be enough for me.  But does that mean that I will leave the workforce when I achieve that number, no.  I love doing what I do and that is helping clients navigate the financial complexity of this world, make it simple again and help them acheive their dreams whatever that may be.

I consider it a privaledge to be a part of this, helping clients make the right decisions based on what they want to acheive.  I gain extreme satisfaction out of that and clients are continually telling me they enjoy the no nonsense advice they receive.

So getting back to the question How much is Enough?  It will boil down to a number for most people.  How much money is it going to cost to fund X.

Below I have run a few numbers to give you some indication of what that number might be based on different required income levels, ages and whether capital is to be exhausted or a legacy to be left.

Retire at age 65 and you exhaust your captial by age 100

Require income of $60,000pa you will require $1,256,070

Require income of $80,000pa you will require $1,674,760

Require income of $100,000pa you will require $2,093,450

Require income of $150,000pa you will require $3,140,175

Note: I have used conservative returns(6%) given the above average returns over recent times.  But let’s say you were able to achieve an average return of 7%.  If you required $60,000pa you would only need $1,109,545.

But what if you wanted to leave a legacy to your kids?

Let’s say you wanted to retire at 65 and leave a legacy.  How much would you need?

Require income of $60,000pa you will require $1,500,000

Require income of $80,000pa you will require $2,000,000

Require income of $100,000pa you will require $2,500,000

Require income of $150,000pa you will require $3,750,000

*This assumes you are drawing down 4%pa.

Let’s say you want to retire at age 55 and exhaust your capital by age 100.  How much would you need?

Require income of $60,000pa you will require $1,416,092

Require income of $80,000pa you will require $1,888,123

Require income of $100,000pa you will require $2,360,153

I have assumed inflation of 2.5%, a rate of return of 6% and you live to age 100.  We have not taken into account any Centrelink benefits or possible defined benefit pensions.

As you could imagine there are many moving parts in how to calculate this number and everyone is different, you have different lifestyles, different activities and interest you would like to fund along with different views on whether to leave a legacy to your children or not.

Nevertheless, the earlier you start planning and take action the more realistic your results will be and the sooner you will be able to enjoy your Next Adventure.

Want to take the Next Step…

If you want to take the next step in securing your Next Adventure, then book a quick 15 min chat to discuss whether we might be able help you acheive that.  You can email me on 

Other resources you might find useful:-

Download our Retirement Lifestyle Worksheet by CLICKING HERE>>

Want some strategies you can implement through your super?  Then download our Super Changes ebook by CLICKING HERE>>

I would love to hear from you.

What’s getting in the way of you achieving your number?  Is there anything you need help with?  Feel free to email me…

Make it a great Life!

Glenn Doherty – CFP – Founder & Financial Organiser at Jigsaw Private Wealth



Mob: 0401 253 729

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Advice Disclaimer: Any reference in this publication to the provision of advice refers to advice of a generic nature, and should not be taken as product or investment recommendations. Before any action is taken based on the information provided, independent financial advice from a licensed financial adviser should be sought. Financial Freedom Project Pty Ltd ATF GA & DC Doherty Family Trust Trading as Jigsaw Private Wealth is a Corporate Authorised Representative of Exelsuper Advice Pty Ltd. The information contained in this publication is of a factual nature only and is not intended to constitute financial product advice. Information is current as at date of publication. This is an online information blog. It does not imply an offering of securities.

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