What is a good retirement income in NZ?

Retirees living a Choices lifestyle spend $1,030 – $1,470 per week, depending on where they live and whether they are a couple or living alone. That’s according to data collected by the NZ Fin-Ed Centre based out of Massey University.

How do I calculate how much money I need to retire?

The best way is to use the Opes Partners retirement calculator. This will tell you how much money you will need to retire on the lifestyle you want.

How much should a 55 year old retire with?

To retire with a Choices lifestyle from the age 55 you will need between $920,000 and $1,300,000 in the bank (in 2022 dollars). This assumes that you’ll receive the NZ superannuation from 65, you own your own home, you’ll retire at 55 and will live till 90. There is a range because if you are a couple, you’ll need more money than a single person. Similarly if you live in the main cities, you’ll need more money than if you live in the provinces. These figures will rise as the cost of living also rises.

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Ed McKnight

Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.

Ed, our Resident Economist, is equipped with a GradDipEcon, a GradCertStratMgmt, BMus, and over five years of experience as Opes Partners' economist. His expertise in economics has led him to contribute articles to reputable publications like NZ Property Investor, Informed Investor, OneRoof, Stuff, and Business Desk. You might have also seen him share his insights on television programs such as The Project and Breakfast.

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What should my retirement plan look like?

Thinking about retirement? The Epic Guide to Retirement Planning is the guide that will give you the knowledge so you can plan for your retirement in 2023