NEW DATA: How much do you need to save for retirement?
In this episode I sit down with Xavier O'Halloran, CEO of Super Consumers Australia, to discuss their latest retirement savings targets.
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NEW DATA: How much do you need to save for retirement?
On this episode, I’m joined by Xavier O’Halloran from Super Consumers Australia to talk about something that matters to every single Australian headed towards retirement: How much you actually need to maintain your lifestyle once you stop working?
Super Consumers Australia has released their updated 2026 Retirement Savings Targets for home owners, and they’re refreshingly grounded in real spending, not marketing or guesswork. These are independent figures, based on what retirees actually spend, and they give you a simple rule of thumb to check if you’re on track.
We break down how much a single homeowner might need versus a couple, how the Age Pension fits into the equation, and why renters face a very different retirement challenge, including brand-new data released just this week.
It’s a clear, calm, jargon-free conversation with no overwhelm, no scare tactics, just practical guidance to help you feel more clear and calm about your money and your future.
And if you’d like to dive deeper, you’ll find the full report from Super Consumers Australia here.
LISTEN TO THIS EPISODE OF THE PODCAST HERE:
Highlights of the conversation:
What the new retirement targets actually say: We break down Super Consumers Australia’s updated 2026 targets, including how much super a single homeowner or a couple really needs, and how these figures align with real-world spending.
Why your number might be lower than you think: Xavier explains why many Australians are better placed than they realise, especially when the Age Pension is factored in. He also clarifies the difference between spending targets and super balances, and why people often confuse the two.
What renters need to know: We talk about the new data for renters, released just this week, and the real financial pressure many face in retirement. Xavier shares the numbers and why housing costs make such a huge difference to your retirement readiness.
How to calculate your own number: Not sure if you’re on track? We walk through how to use the savings targets as a rule of thumb and how to get a clearer sense of your personal trajectory based on your own lifestyle and situation.
The role of super, the pension, and your spending mix: We talk about the balance between drawing down your super, receiving the pension, and managing your annual spending - and how this blend plays out in most real retirements.
Why we need independent advice: Xavier shares why Super Consumers’ work matters and the importance of having transparent, consumer-first information that cuts through the complexity and puts everyday Australians back in control.
The How to Have an Epic Retirement flagship course (which is currently 25% off!) begins 19th February. It’s a practical, Australia-first program designed for people in their 50s and 60s who want to understand how to navigate retirement (the easy way). And we all do the program together (we call it a synchronous program).
From Bec’s Desk
Christmas is definitely coming. For many of you, this is the final week of work for the year. And for some celebrating in Epic Retirement Month, it might even be your final week of work full stop. If that’s you, I’m genuinely excited for you. Savour these last days. They matter.
I’m also excited for everyone who’s simply ready for a proper break. I know I am. I’m heading off for a few weeks, but don’t worry, we’ve planned and recorded an excellent run of podcasts for the Christmas period. In fact, the Prime Time podcast won’t be pausing at all, unlike much of the media.
We know this time of year is when people slow down just enough to think. About life. About work. About whether they want the next chapter to look the same as the last. About retirement, and how to do it better, not just sooner. And we’re here with you through that thinking, right across the holiday period.
If you haven’t already downloaded your Epic Retirement Starter Kit, get on over to our website. It’s just on offer for Epic Retirement Month. And that is meant to end on the 20th December! Download it here.
Yesterday, the end-of-year data dropped for our little podcast, and it turns out Prime Time is climbing the Australian Podcast Ranker. Can you believe it?
We’re now sitting at our highest ever position: #169 on the Australian Podcast Ranker.
Honestly, thank you so much for listening and for spreading the word. That ranking feels pretty special when you realise we’re sitting alongside daily radio shows, sports shows and big-name comedians, many of whom publish far more than our 4–6 episodes a month.
So a huge, heartfelt thank you. I’m incredibly grateful you’re here on the journey with me.
Today’s episode is a big one. It’s the annual release of the “how much is enough” data from Super Consumers Australia. It’s some of the most useful benchmarking data out there, because it helps you sanity-check your own numbers and expectations against what real Australians are spending and planning for retirement. And their data really clearly shows the value of the age pension in your retirement income mix.
Finally - one last massive thank-you to the team at Hostplus for supporting the show through Epic Retirement Month. It’s been epic so far - and they’re with us right through the rest of the month! 👏🏻.
Let’s get into it.
Bec
I’m a 48 year old Hostplus member, and whilst I applaud their Super Smart tool - I’m really disappointed they have limited access to over 60”s only. Surely making access available to all members would help us plan before we reach retirement age, after all isn’t that the point?