How do you know if you have enough? My wife and I are both in our mid-50s and thinking about retirement around 60. We have $1.6 million in super, and around $1 million in other investments. We own our house and have no debt. We think we’d need about $80,000 to $100,000 a year, depending on how much travel we do. Our money has to last a long time, so how do we know if/when we can safely retire?

Thanks for your great question. Answering variants of this question constitute a large part of the work that I do. One solution therefore, to have a really robust answer to your question, would be to engage a financial planner and have them do financial modelling for you.

Calculating how much you’ll need in your nest egg can be a tricky endeavour.Credit: Simon Letch

This would typically entail long-term projections with conservative estimates around rates of return. They would often include stress testing, for instance assessing your ability to handle unusually low........

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