Retirement Planning

How Much Do I Need to Retire in Ireland in 2026?

The complete guide to calculating your retirement number in Ireland.

4 January 20268 min read

The Big Question

Every Irish person approaching retirement asks the same question: "How much do I actually need?"

The answer isn't a single number. It depends on:

  • Your desired lifestyle
  • Whether you own your home
  • Your health and healthcare needs
  • When you want to retire
  • What income sources you'll have

    • But here's the good news: we can calculate a realistic target.

    The 2026 Numbers

    State Pension

    The Irish state pension (contributory) in 2026 is approximately €289.30 per week for a full contribution record. That's about €15,044 per year.

    However, many people won't qualify for the full amount. The average Irish retiree receives about 80% of this.

    The Replacement Rate Rule

    Financial advisors often recommend replacing 66-80% of your pre-retirement income. If you're earning €60,000, that means €40,000-€48,000 per year in retirement.

    The Simple Math

    For a comfortable retirement in Ireland (single person, 2026):

  • Monthly expenses: €2,500-€3,500
  • Annual needs: €30,000-€42,000
  • Less state pension: -€15,000
  • **Gap to fill: €15,000-€27,000/year**

    • Using the 4% safe withdrawal rule, you need:

  • **€375,000-€675,000** in savings/investments

    • For Couples

    Double the expenses but factor in:

  • Shared housing costs (don't double these)
  • Two state pensions
  • Potential for smaller individual retirement pots

    • Couple target (comfortable): €500,000-€900,000

    The Wild Card: Your Home

    Owning your home mortgage-free is essentially worth €200,000-€400,000 in your retirement fund, because:

  • You're not paying rent or mortgage
  • You have a potential asset to downsize or equity release

    • If you own your home: reduce your target by 20-30%.

    What About Healthcare?

    Ireland's public healthcare system has gaps. Budget for:

  • Private health insurance: €2,000-€4,000/year
  • Dental work: €500-€1,500/year
  • Unexpected medical costs: emergency fund

    • The Timeline Factor

    Retiring at 66 (state pension age)?

  • You need less capital (shorter retirement)
  • State pension kicks in immediately

    • Retiring at 60?

  • 6 years without state pension
  • Need extra €90,000-€160,000 to bridge the gap
  • Or accept a smaller withdrawal rate

    • Action Steps

    1. Calculate your number - Use our free quiz to get your personalized target

    2. Check your state pension entitlement - Get a statement from the Department of Social Protection

    3. Track your current savings - Create a free RetiroAI account to see where you stand

    4. Mind the gap - If you're behind, you have options (work longer, save more, or adjust expectations)

    The Bottom Line

    For most Irish people planning to retire at 66:

  • **Single, modest lifestyle**: €300,000-€400,000
  • **Single, comfortable lifestyle**: €500,000-€700,000
  • **Couple, comfortable lifestyle**: €600,000-€900,000

    • These are targets, not guarantees. But they give you something to aim for.

    Want to know your personal number? [Take our free 2-minute quiz](/quiz) and see exactly where you stand.

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial, tax, investment, or legal advice. The information presented may not reflect your personal circumstances, and projections are based on simplified assumptions that may not accurately predict future outcomes. Always consult qualified professionals before making important financial decisions. Past performance does not guarantee future results.

    Want to Explore Your Numbers?

    Try our free 2-minute quiz to get a rough estimate of your retirement timeline. Remember: this is for exploration only, not advice.

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