Aussies are being urged to plan out their individual retirement instead of relying on a flat figure that might mean nothing to them.

According to the Association of Superannuation Funds (ASFA) Retirement Standard, a retiree will now need a yearly budget of $53,289 – or $75,319 for a couple – a year for a comfortable retirement.

This is up from $51,278 for an individual and $72,148 for a couple in 2024.

But it comes with a key caveat that the retiree owns their own home.

While these figures serve as a useful guide, Challenger head of technical services Andrew Lowe told NewsWire retirement is an individual goal.

“What it means for you is really important,” he said.

“If a person has built a lifestyle and expectations based on their $70,000 a year salary then they’ll need a much lower lu

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