How much superannuation you should have at every age, what a comfortable retirement really means, and how to reach your financial goals. Includes an at-a-glance savings table and people-focused guidance.
Understanding Superannuation: Are Your Savings on Track?
Making sense of your superannuation can feel overwhelming, but knowing where you stand now compared to national standards is a big step toward a comfortable retirement. This guide is designed to help everyday Australians, like you, confidently navigate the world of super—free of jargon and with practical tips you can act on right away.
How Much Super Should You Have at Your Age?
No two super balances look the same, but some clear benchmarks can show you where you stand. The Association of Super Funds of Australia (ASFA) has designed an easy-to-follow guide based on their Super Detective calculator.
Recommended Superannuation Balances by Age
See how your current savings compare to what’s recommended for a comfortable retirement:
| Age | Suggested Super Balance |
|---|---|
| 25 | $26,000 |
| 30 | $66,500 |
| 35 | $111,500 |
| 40 | $168,000 |
| 45 | $226,000 |
| 50 | $296,000 |
| 55 | $377,000 |
| 60 | $469,000 |
| 65 | $571,000 |
What Does ‘Comfortable’ Really Mean in Retirement?
At the heart of all these numbers is a simple question—what kind of lifestyle do you want when you stop working? The ASFA Retirement Standard offers one interpretation. A comfortable retirement means covering all life’s essentials with ease, and enjoying some extras like:
Top-level private health insurance
Regular exercise and leisure activities
Occasional restaurant meals
A domestic trip each year
An overseas trip every seven years
The Magic Numbers: How Much Super Do You Need?
$690,000 for couples at age 67
$595,000 for singles at age 67
This is based on home ownership, receiving a part-pension, and getting a 6% annual return on investments. The annual cost of a comfortable lifestyle is set at $73,875 for couples and $52,383 for singles.
Planning for a Comfortable Retirement: Beyond the Numbers
It’s not just about meeting a number—it’s about meeting your needs and dreams. Jenny Brown, CEO of JBS Jenny Financial Strategists, calls this your “financial freedom number.” Ask yourself:
What are you spending now, and what’s likely to change?
What lifestyle do you want when you retire—quiet, active, adventurous, or something else?
When do you want to retire—60, 65, 70, or as soon as possible?
Everyone’s path is different. These numbers are a guide, not a rule.
Superannuation Returns: How Did FY25 Shape Up?
Understanding your potential growth is just as important as contributing regularly. For FY25:
The median Australian growth super fund returned a robust 10.5%
The median ‘balanced’ option returned 8.8%
Balanced funds (the default for most Australians) typically have 41% to 60% growth assets (like shares), while growth options go up to 80%. Your fund’s specific mix can make a meaningful difference over time.
What’s Next for Your Super?
From 1 July, the compulsory Superannuation Guarantee jumped from 11.5% to 12%. That means your employer now puts a bit more into your super account each payday.
According to ASFA, a 30-year-old with an average salary of $75,000 (who works steadily to retirement) can achieve a comfortable retirement, thanks in part to this boost.
Quick Reference: At-a-Glance Super Balances Table
| Age | Suggested Super Balance |
|---|---|
| 25 | $26,000 |
| 30 | $66,500 |
| 35 | $111,500 |
| 40 | $168,000 |
| 45 | $226,000 |
| 50 | $296,000 |
| 55 | $377,000 |
| 60 | $469,000 |
| 65 | $571,000 |
Take Control of Your Super
While national averages and calculators are helpful, the best super strategy is one that fits your life and your future goals. Checking in regularly, understanding how your fund performs, and reconsidering your risk level or making extra contributions can make all the difference.
If you’re unsure, consider chatting with a financial planner. It’s about peace of mind and living life on your terms—not just hitting a number.
FAQs
How often should I check my super balance?
It’s good practice to check your superannuation balance at least once or twice a year to stay aligned with your goals.
Can I retire earlier than the recommended age?
Yes, you can! It will depend on your savings, investments, lifestyle plans, and desired retirement age.
What happens if my super is below the recommended level for my age?
Don’t stress—many people catch up in their later working years. You can boost your super with extra contributions and by choosing the right investment mix for your goals.
Most Retirees Miss This $23,766 Social Security Bonus — See If You Qualify by This Date
