So you’re 70. Or close to it. And there’s $400,000 sitting in your super.
The big question keeps you up at night. Is that enough?
Here’s the short answer. Yes, for most Aussies, $400,000 at 70 can work. But the real answer has layers. Like a good lamington.
Let’s pull this apart. No jargon. No scare tactics. Just real numbers and a plain chat about what your money can actually do.
Why Retiring at 70 Changes Everything
Most people picture retirement at 65. Some even dream of 60.
But waiting until 70? That’s a quiet superpower.
You get five extra years of work. Five more years of super contributions. And five fewer years your money has to stretch.
That’s a triple win. Your nest egg grows. The Age Pension kicks in. And your savings run a shorter race.
Think of it like this. Retiring at 60 is a marathon for your money. Retiring at 70 is more like a brisk walk.
The later you start, the further each dollar goes.
What $400,000 Actually Looks Like at 70
Let’s talk real Aussie data. Not guesses.
The average super balance for Australians aged 65–69 sits at around $448,518 for men and $392,274 for women. As retirement approaches, the averages for Australians aged 60–64 are $313,360 for women and $395,852 for men. And at ages 65–69, the averages are $392,274 and $448,518, respectively.
So $400,000 at 70? You’re sitting right around the national average. Maybe a touch above it.
You’re not behind. You’re in the pack.
But “average” and “comfortable” aren’t the same thing. There’s the catch.
The Comfort Question: How Much Do You Really Need?
The Association of Superannuation Funds of Australia sets the benchmarks. People call it ASFA.
The Association of Superannuation Funds of Australia (ASFA) estimates that a single retiree needs about $595,000 in super to achieve a comfortable retirement, while couples need around $690,000 combined.
So $400,000 falls short of “comfortable” for a single person. On paper.
But here’s what most scary headlines skip. That $595,000 figure assumes you fund it almost entirely from super. It ignores the Age Pension doing heavy lifting.
You’re not retiring on $400,000 alone. You’re retiring on $400,000 plus a pension. That changes the whole picture.
Ever notice how a budget feels bigger once you stop counting your debts? Same idea here.
The Age Pension: Your Quiet Co-Pilot
This is the part nobody explains well. So let’s fix that.
The Age Pension is a fortnightly payment from the government. It’s means-tested. It cuts in at age 67.
By 70, you’re well past that gate.
Here are the current numbers. The rates for a full Age Pension for the period 20 March 2026 to 19 September 2026 are: Single: $1,200.90 per fortnight (approximately $31,223 per year). Couple (combined): $1,810.40 per fortnight (approximately $47,070 per year).
Read that again. A single full pension is about $31,000 a year. A couple gets close to $47,000 a year.
That income lands before you touch a cent of your super.
So your $400,000 isn’t your whole retirement. It’s the cream on top of a pension base.
Will $400,000 Cut Your Pension?
Good question. The pension shrinks if you own too much. They call it the assets test.
But $400,000 in super is well within the limits.
Assets test cut-offs are $722,000 (single homeowner) and $1,085,000 (couple homeowner) from 20 March 2026.
A single homeowner with $400,000 sits comfortably under that $722,000 ceiling. You’d likely qualify for the full or near-full pension.
That’s the magic combo. Decent pension. Plus your own savings. Plus your home.
Three pillars holding up one roof.
Running the Real Numbers: A Single Retiree at 70
Let’s make this concrete. Numbers tell the truth.
Picture Margaret. She’s 70. Single. Owns her home outright. Has $400,000 in super.
Her likely income looks like this:
- Full Age Pension: roughly $31,223 a year
- Modest super drawdown at 5%: roughly $20,000 a year
- Total: around $51,000 a year
That’s solid money for someone with no rent and no mortgage.
ASFA pegs a comfortable single lifestyle at around $54,000 a year. Margaret lands within striking distance. And she can dial her drawdown up or down as life shifts.
She’s not rich. But she’s not stressed either. She’s fine. And fine, with a paid-off house, feels pretty good.
Running the Numbers: A Couple at 70
Now flip it. What if you’re a couple sharing that $400,000?
This changes the maths in your favour. Big time.
A couple’s likely income:
- Full combined Age Pension: roughly $47,070 a year
- Modest super drawdown at 5%: roughly $20,000 a year
- Total: around $67,000 a year
ASFA’s comfortable couple benchmark is about $77,000 a year. You’d land a bit below that.
But here’s the thing. A couple with no mortgage and $67,000 a year lives well. Holidays. Dinners out. Grandkids spoiled rotten.
Two people. One pension. One pot of savings. The load gets lighter when it’s shared.
The Renters’ Reality Check
Now the honest part. This all gets harder if you rent.
A paid-off home is the secret engine here. No rent means your pension stretches twice as far.
If you’re still renting at 70, $400,000 gets tighter. You’ll lean harder on Commonwealth Rent Assistance. And your super will drain faster.
There’s an old saying. He who has a roof, has half his worry gone.
Rent eats retirement income like nothing else. If you own your place, breathe easy. If you don’t, plan harder.
The Move That Often Comes With Retirement
Here’s where things get practical. Retirement and moving house go together like tea and bickies.
Maybe you’re downsizing. Maybe you’re chasing the coast. Maybe the family home feels too big now.
This is a smart money moment, not just an emotional one.
Selling a big house and buying smaller can free up cash. Sometimes a lot of cash. That money can top up your super or pad your savings buffer.
There’s even a rule built for this. It’s called the downsizer contribution.
You might consider downsizer contributions, which allow eligible homeowners to put up to $300,000 from the sale of their home into super.
Imagine that. Sell the big house. Drop up to $300,000 straight into super. Your $400,000 could grow fast.
When you’re ready for that shift, our Speedy Van Move service makes the small stuff simple and quick.
Downsizing Without the Drama
Let’s be real. Downsizing isn’t just about money. It’s emotional.
You’re letting go of decades. Rooms full of memories. A garden you planted yourself.
That’s heavy. Don’t rush it.
The trick is to start early. Sort one room at a time. Keep what you love. Pass on what you don’t.
A smaller home means smaller bills. Less cleaning. Less stress. More money for the fun stuff.
For a smaller place, our studio apartment removalist and 1 bedroom unit/house removalist teams know exactly how to handle a gentle downsize.
How Long Will $400,000 Last?
This is the fear, isn’t it? Outliving your money.
It’s a fair worry. But context helps.
A healthy 65-year-old Australian woman today has a roughly 50% chance of living past 89, and a meaningful chance of reaching 95 or beyond.
So you might need that money for 20-plus years. That sounds scary alone.
But you’re not spending $400,000 alone. The pension carries most of the weight.
If you draw $20,000 a year from super and it keeps earning returns, the balance lasts a long time. Especially with the pension covering your basics.
Your super isn’t the whole meal. It’s the dessert. The pension is the main course.
Boosting Your Position Before You Retire
Still working at 68 or 69? You’ve got moves left to make.
Every extra year of contributions adds up. Since 1 July 2025, your employer is legally required to contribute 12% of your ordinary time earnings into your superannuation fund.
That 12% builds your pot fast in those final years.
You can also add extra yourself. Making personal concessional contributions (within annual limits) can give your balance a final boost before retirement.
Small actions late in the game still matter. Even small actions, like reviewing your fund’s performance or switching to lower fees, can make a noticeable difference over time.
Don’t write off these last few years. They’re powerful.
The Work Bonus: Earn a Bit, Lose Nothing
Here’s a little-known gem. You can work part-time at 70 and keep your pension.
The Work Bonus allows you to work and earn up to $300 per fortnight without affecting your Age Pension.
So a few shifts a week? Some casual consulting? That cash is yours. No pension penalty.
That’s another stream feeding your retirement river.
Many retirees love this. A bit of work keeps the mind sharp. The extra money is a bonus, not a need.
What Could Go Wrong (And How to Plan for It)
Let’s not sugar-coat it. Some things can knock your plan sideways.
Health costs. Aged care and medical bills can spike. A buffer helps. Keep some super liquid.
Market dips. Super can wobble. Don’t draw down hard during a slump if you can avoid it.
Inflation. Groceries and power bills keep climbing. The pension is indexed twice a year, which helps cushion this.
The fix for all three? Flexibility. Keep your spending adjustable. Keep a small cash buffer. Don’t lock everything away.
A good plan bends. A rigid one breaks.
So, Can You Actually Retire at 70 With $400,000?
Let’s bring it home.
For a homeowner couple? Comfortably, yes. The shared pension plus savings gives you a good life.
For a single homeowner? Yes, with a modest lifestyle. Not luxury. But secure and steady.
For renters? Possible, but tighter. You’ll need careful budgeting and maybe part-time work.
The truth is simple. $400,000 at 70 is a strong position for most Australians. Not because the number is huge. But because of when you’re using it.
You’ve got the pension. You’ve likely got a home. And you’ve got fewer years to fund.
That’s not a crisis. That’s a plan that works.
Making the Move Easier When the Time Comes
Retirement often means a fresh start somewhere new. Quieter suburb. Beach town. Closer to the kids.
That move shouldn’t add stress to a big life change.
Whether you’re shifting across Sydney or heading interstate, the right help matters. Our interstate backloading option is a budget-friendly way to move long distance without paying for a whole truck.
Heading down the coast? We cover routes like Sydney to Wollongong and many more. We’ve got over 600 locations across Australia sorted.
Want to plan your budget first? Use our Moving Home Calculator for a quick, clear estimate before you commit.
A new chapter deserves a smooth start. We’re here when you’re ready to turn the page.
Six Brothers Removalists Phone: 1300 764 372 Email: info@sixbrothersremovalist.com.au Suite 1 Level 5/58-60 Macquarie St, Parramatta NSW 2150
