You’ve worked hard. Climbed ladders (literally or figuratively). Answered late-night emails. Sat in more meetings than anyone should be legally required to. Worked your socks off. And now, as retirement peeks over the horizon, a question nags at you—how much is enough?

If you’ve ever Googled “how much super do I need?” and had to lie down in a dark room afterward, you’re not alone. Most online calculators spit out numbers that sound more like national defence budgets than retirement targets. But here’s the truth: retirement isn’t about the size of the pot, it’s about what you want to do with it.

The Great Australian Mirage

Let’s start with the so-called gold standard: the Association of Superannuation Funds of Australia (ASFA) says a “comfortable” retirement means about $70,000 a year for couples and $50,000 for singles. This covers things like private health insurance, regular dining out, theatre tickets, and a European holiday every couple of years.

Nice, sure. But is that actually your version of retirement? Or is that the retirement lifestyle of a retired Qantas pilot with a wine cellar and a thing for cashmere?

“The most important question in retirement planning isn’t how much money you have, but what kind of life you want to live.”

Noel Whittaker, Australian financial educator and author

If your idea of a dream retirement involves a decent espresso machine, coaching junior footy, walking the dog without mobile phone interruptions, and having time to actually cook dinner from scratch, then you may not need nearly as much as you’ve been led to believe.

Reverse Engineering Retirement

Here’s a wild thought: instead of working toward an arbitrary lump sum (which, let’s be honest, feels a bit like chasing Bigfoot), work backward from the lifestyle you want. Start by asking yourself:

• Where do I want to live? (And no, “anywhere but the office” doesn’t count.)
• What does my ideal week look like?
• How much do I need to fund that life—not the one in the retirement brochure with the white linen pants?

Once you get clear on those answers, you can start to put real numbers to them. For example:

• Downsizing your home could free up hundreds of thousands, and reduce your cost of living.
• Moving out of major cities could cut living expenses by 20–30%.
• Volunteering or part-time work can top up income while giving you structure and meaning (and a reason to get dressed before 10am).

Super and the Power of Starting Sooner

Here’s where compound interest comes in, the magical force that turns average investors into wise ones. Even modest contributions, made consistently and early, can have a huge impact. According to the Australian Securities and Investments Commission (ASIC), investing just $100 a week from age 30 can grow to over $500,000 by age 65, assuming a 7% return. Now 30 may be in the rear view mirror for many of us, but compound can still work in our favour.

“Compound interest is the eighth wonder of the world.”

Attributed to Albert Einstein (possibly urban legend, but still rings annoyingly true)

If you’re already 50 and feeling behind, don’t panic. You’ve likely still got earning power and the option to salary sacrifice into super, which comes with juicy tax breaks. Plus, you’ve got perspective now, something the 30-year-old version of you sorely lacked while buying that overpriced signed rugby league legend jersey (ah but geez he was a great player, wasn’t he?).

Cut Through the Noise

Let’s be honest: part of the retirement industry thrives on fear. The more worried you are, the more likely you’ll buy into products, plans, and predictions that keep you hooked. But here’s the good news: you are likely not as behind as you think. If you can get clear on what enough looks like for you, and start adjusting now, you’ve got more control than the fearmongers would have you believe.

Ask yourself:

• Can I reduce spending now to increase saving (and peace of mind)?
• Is it time to sell the things I don’t use and invest in the life I actually want?
• Am I making financial decisions based on fear, or purpose?

Enough Is a Decision, Not a Destination

There’s a quiet strength in deciding that what you have, or what you’re on track to have, is enough. That you don’t need to chase the moving target of “more.” That your value isn’t your net worth, but your impact, your presence, and your happiness.

In the end, the question isn’t really “how much do I need to retire?” The real question is: what kind of life do I want to live—and what’s it truly worth to me?

Because the old man? He’s out there somewhere, but we don’t have to let him in just yet. You’ve still got time. You’ve got tools. You’ve got choice.

And if you’re smart about it, you might just find…you already have enough.

There’s a reason the podcast Don’t Let the Old Man In resonates with thousands of men in their 50s. It speaks to the quiet war many fight against obsolescence, irrelevance, and a determination to navigate life’s crossroads with clarity and confidence. And likewise, if you’re reading this, you haven’t given up. You’re still curious. Maya Angelou once said, “If you’re always trying to be normal, you will never know how amazing you can be.” Midlife career change isn’t about being extraordinary. It’s about being aligned—with yourself.

Stephen Keys is the Producer of the Don’t Let the Old Man In podcast. Listen on YouTube, Apple, Spotify or wherever you tune in. Find more thoughts on living gracefully (and disgracefully) in the second half of life at The Wisdom Vault, on LinkedIn, Substack and even (!) Instagram.