For most people, this isn’t about chasing more. It’s about knowing whether you’ll be okay, and what “okay” actually looks like in dollars and years.

Whether retirement is a decade away, just around the corner, or already underway, this page covers what you need to know.

NZ Super is a foundation, not a retirement plan

New Zealand Superannuation pays a single person living alone roughly $555 per week after tax on the standard M tax code. A couple where both partners qualify receives a combined total of around $854 per week. These are 2026/27 rates (adjusted each April in line with wage growth) and administered by Work and Income.

For covering the basics in a modest household, NZ Super does its job. The problem is, most people do not retire to live modestly.

The Massey University Fin-Ed Centre publishes annual Retirement Expenditure Guidelines based on actual spending by New Zealand retirees. The 2025 edition found a two-person household living a “no frills” retirement in a metropolitan area spends around $910 per week. A couple wanting a more comfortable standard of living, with room for travel, dining out, and the occasional indulgence, spends closer to $1,740 per week. Both figures exceed NZ Super by a wide margin.

The gap between what NZ Super provides and what retirement actually costs is real, measurable, and grows larger the longer you ignore it. Closing it requires a plan, and the earlier you build one, the more room you have to let compounding do the heavy lifting.

Retirement is not one phase. It is three.

One of the most common planning errors is assuming you will spend the same amount every year for 25 or 30 years. In practice, retirement spending follows a recognisable arc.

The active years (roughly 65 to 74)

Spending tends to peak here. Travel, hobbies, home renovations, helping adult children with a deposit, ticking items off the list. Many retirees are busier in this decade than they were while working. Some continue with part-time or consulting work, which supplements income and keeps the mind sharp. The risk in this phase is overspending early and leaving too little for later.

The slower years (roughly 75 to 84)

Discretionary spending usually drops. The appetite for long-haul flights diminishes and daily life becomes simpler. Costs fall in some areas, but health-related expenses begin to climb. If health insurance premiums have been rising through this period, some retirees face difficult decisions about whether to continue cover or self-insure.

The care years (roughly 85 onward)

Medical costs, rest home fees, and in-home care can escalate quickly. Cognitive decline may require support with financial decision-making. A well-structured plan accounts for these costs in advance, rather than treating them as surprises. Holding a reserve specifically for this phase provides both financial and psychological security.

A good retirement plan models all three phases, builds a drawdown schedule to match, and leaves appropriate buffers for the unexpected.

Not sure if your savings will last, or how much you can safely spend each year? Book a complimentary consultation to find out where you stand.