How much money do you need to retire?

And how much would you need if you chose to retire in a retirement village like this one, http://www.retirementbylendlease.com.au/costs-and-ownership?

The Association of Superannuation Funds of Australia calculates that a couple about to retire now would need an annual income of $55,000 for a comfortable lifestyle. That $55,000 equates to a future income of about $180,000 at the time that today's 30-year-olds are looking at retirement. To get that sort of income, you'll need a lump sum of about $2.5 million.

How attainable is that for most people?

Radar welcome and be prepared to be jumped on.
I have both the thought the thread deserves attention, and that your view of how much is needed is more in the life style of a very rich person not the average.
You will get mugged because we have a few who say I worked hard for mine anyone else does not deserve it.
We must include lots of different folk who came from many different back grounds.
I am not rich, not even near the figures you quote, but better off than many.
Home ownership for my age is easier than for some one retiring in ten years.
Single parents even those with health issue that stopped them worker should be included.
A country home like mine owned and debt free is different than a city one seeing rates near equal to some incomes? interesti8ng stuff.

Why retire early? I plan to keep working until I'm 105, then retire.

I have often wondered who writes these things. Must be retired public servants living off our fatted calf.

After my second heart attack, I virtually had to give up work. I set up & ran my small wholesale advanced plants nursery for the next 6 years. [Yes plants are good therapy]. There were only a couple of years when I grossed more than their recommended retirement income, let alone had it as a before tax net profit.

I am living on quite a bit less than their comfortable income idea, & leading the "life of Riley", although it might not be so good, with out the health care card. That's really is a great asset for old codgers.

I did build my hump before retiring. I owned everything I was likely to need for the next 10 years. At year 8 the odd thing is showing it's age, but mostly you don't need all that much to be happy. Hell if I had too many bright & shiny new things, they would just make me look worse by comparison.

I can't imagine a worse way to spend a couple of weeks or months, than as a tourist, at home or abroad, so that is one of their costs I don't have, & never will.

I reckon about half their advised money would do thanks. Of course, they are trying to flog superannuation aren't they, so you can expect a bit of hype.

Hasbeen found it interesting you grew plant as a business, so know far more than me about them.
I went, after much pressure from my roads job at 56, bought my home and blew the rest, well spread it about.
Got the second chance and worked for ten year at a higher income.
Bought every thing for cash, put maximum in super and left, in a huff, with only $75.000
Now on my own and sailing in clear waters.
How would I be if I had two and a half million!
Take a breather now and again, health shot, but after a couple of weeks not spending can get out to a couple of plant markets and come home with work ahead.
So who thinks these figures up?

Don't you believe it Belly. In my experience the enthusiastic amateur often knows more than the professional. The professional is only interested in what is proven to work, where as the amateur will experiment by design or accident, & often make advances because of this.

I had gathered we were in a similar position, with fully owned modest properties that suited us.

I was lucky enough to find a good property, downgraded by a large but very ordinary home, so reasonably priced. Fresh water river front, with an irrigation licence, it was a bankrupt turn farm that nobody wanted, but suited me well.

To me a house is somewhere to eat, sleep, house my computer, & perhaps watch a little sport on TV. I am much more interested in my garden & sheds, they are where I live, & sometimes struggle with the chores.

Today I spent about 3 hours, putting a new blade drive belt on my multi blade ride on mower. I really don't care that I would have done it in an hour a few years back.

My son likes to show me he can now do anything I can, or could do. He does a lot of the heavy maintenance work when he comes home for a week or so holiday fairly regularly.

I find retirement fantastic, so I guess I'm still pretty damn lucky.

Good stuff Hasbeen.
I did not make it to my dream few acres but am much as you are.
Being a ham radio operator it takes second place at my shoulder in my lounge room.
Still could convert this to 63 acres of scrub and a tin shed, just a klm away, but my garden is enough at my age.