Do I need a more powerful PSU?

I have been putting together a build for my first go at a mid-range gaming PC. 

Several of my friends have recommended that I get something more powerful than a 550W PSU.

 Am I good with just the 550W or is there some truth to their suggestions?


PCPartPicker part list:
Price breakdown by merchant:

CPU: AMD Phenom II X4 965 Black 3.4GHz Quad-Core Processor ($89.99 @ NCIX US)
Motherboard: MSI 880GM-E43 Micro ATX AM3 Motherboard ($84.77 @ NCIX US)
Memory: Corsair Vengeance 8GB (2 x 4GB) DDR3-1600 Memory ($35.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($73.75 @ NCIX US)
Video Card: EVGA GeForce GTX 570 1.25GB Video Card ($244.99 @ Newegg)
Case: NZXT Vulcan Black MicroATX Mid Tower Case ($69.94 @ Mwave)
Power Supply: Antec Basiq Plus 550W 80 PLUS Certified ATX12V Power Supply ($60.99 @ SuperBiiz)
Optical Drive: LG GH24NS90 DVD/CD Writer ($23.98 @ Newegg)
Total: $684.40

You'd be fine with the 550W for this build, but if you plan on doing some upgrading in the future (which most of us do) then it's safe to say to go with a 600w - 650w

I would go with a 650w personally just to give myself plenty of elbow room for upgrades without worrying about the psu.

Thanks! I might just end up going with the 600W then.

Theres a Corsair 650w for just $14 more than the one you currently have selected. (free shipping)

Thank you again! :) This should be all I need! 

No problem :)

Good luck on your new build!