When it comes to retirement, one of the most common assumptions is that couples need far more superannuation than singles.
After all, two people means double the expenses, right?
Not quite.
The reality is more nuanced, and understanding the difference can have a big impact on how you plan for retirement.
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What the benchmarks say
According to the Association of Superannuation Funds of Australia, the amount of super required for a comfortable retirement is around $630,000 for a single person and around $730,000 for a couple combined.
At first glance, that might seem surprising. A couple only needs $100,000 more than a single person, not double.
That's because many costs in retirement are shared.
Why couples need less superannuation per person
Retirement spending doesn't scale linearly.
Housing is the clearest example. Whether one person lives in a home or two, many costs remain the same. Rates, maintenance, and utilities don't double just because another person is there.
The same applies to a range of other expenses. Things like internet, streaming services, insurance policies, and even groceries benefit from economies of scale.
This means couples can spread costs across two people, making retirement more efficient on a per-person basis.
Income needs tell the same story
This dynamic is also reflected in annual spending estimates.
A comfortable retirement currently requires around $54,000 per year for singles and about $76,000 for couples. Again, the couple doesn't need twice as much, they need only about 40% more.
That difference highlights how shared living reduces financial pressure.
Where singles face challenges
For singles, the lack of shared costs creates a tougher financial equation.
Every expense, from housing to utilities to everyday living, must be covered by one income source. There is less flexibility and fewer opportunities to reduce costs without impacting lifestyle.
This means singles often need a higher super balance relative to their situation, even if the absolute number is lower.
There is also less margin for error. Unexpected expenses or market downturns can have a more immediate impact when there is only one income stream to rely on.
Where couples have an advantage
Couples benefit from both shared costs and shared resources.
They often have two super balances, two potential income streams, and more flexibility in how they manage spending and drawdowns.
Even if one partner has a smaller balance, the combined pool can still support a comfortable lifestyle.
In many cases, couples are also better positioned to continue part-time work or adjust their retirement timing, which can further strengthen their financial position.
But it's not always straightforward
Of course, not all couples are financially equal.
Differences in age, health, spending habits, and super balances can all influence outcomes. In some cases, one partner may carry most of the financial weight.
Similarly, singles who own their home outright and have modest spending needs may find they can retire comfortably on less than expected.
The real takeaway
So, who needs more superannuation to retire?
In absolute terms, couples need more, but only slightly.
In practical terms, singles often face the greater challenge because they don't benefit from shared costs and flexibility.
Foolish takeaway
Retirement isn't just about how much super you have, it is about how your life is structured.
Couples can stretch their savings further thanks to shared expenses, while singles need to be more self-reliant.
Understanding that difference can help you set more realistic goals and plan a retirement that works for your situation, not just the averages.
