Most Australians feel uncertain about whether they are on track financially. The honest answer is that there is no single “right” amount — it depends on your income, spending, goals, and timeline. However, useful benchmarks exist for both superannuation and non-super investment balances by age that can help calibrate your progress. Here is what the data says and what to do if you feel behind.
Super Balance Benchmarks by Age
The ATO and APRA publish data on median and mean super balances by age. These serve as reference points, noting that median figures are typically more representative than means (which are skewed by very high balances).
Approximate median super balances by age (2023–24 data):
| Age group | Approximate median super balance |
|---|---|
| 25–29 | $18,000–$22,000 |
| 30–34 | $35,000–$45,000 |
| 35–39 | $55,000–$70,000 |
| 40–44 | $80,000–$100,000 |
| 45–49 | $110,000–$135,000 |
| 50–54 | $140,000–$170,000 |
| 55–59 | $180,000–$220,000 |
| 60–64 | $210,000–$250,000 |
Source: ATO/APRA data. Figures are approximate and change each year. Individual circumstances vary significantly.
ASFA Retirement Standard — What’s “Enough”?
The Association of Superannuation Funds of Australia (ASFA) publishes a Retirement Standard:
| Lifestyle | Annual income needed | Approximate super needed at 67 |
|---|---|---|
| Modest | ~$33,134 (single), ~$47,731 (couple) | ~$100,000 |
| Comfortable | ~$51,278 (single), ~$72,148 (couple) | ~$595,000 (single), ~$690,000 (couple) |
ASFA figures as at March 2026 quarter. Updated quarterly. Assumes Age Pension supplement and homeownership.
Non-Super Investment Benchmarks
There are no standardised benchmarks for non-super investment portfolios, as they are entirely optional (unlike compulsory super). As a rough guide:
| Age | What a “on-track” non-super investor might have |
|---|---|
| 25–30 | $5,000–$20,000 (early stages, focus on super and emergency fund) |
| 30–35 | $20,000–$60,000 (established ETF portfolio growing) |
| 35–45 | $60,000–$200,000 (compound growth becoming visible) |
| 45–55 | $150,000–$400,000 (significant growth phase) |
| 55–65 | $300,000–$800,000+ (approaching retirement, income focus) |
These ranges are illustrative only. Incomes, savings rates, and goals vary enormously.
A Multiplier-Based Benchmark
Some financial planning frameworks use salary multiples as a benchmark for total savings (super + non-super):
| Age | Target total savings as multiple of annual salary |
|---|---|
| 30 | 1x salary |
| 35 | 2x salary |
| 40 | 3x salary |
| 45 | 4x salary |
| 50 | 6x salary |
| 55 | 7x salary |
| 60 | 8–9x salary |
| 65 (retirement) | 10–12x salary |
On an average Australian salary of ~$100,000 (FY2024–25 median full-time earnings), this would suggest:
- Age 40: ~$300,000 in total savings
- Age 55: ~$700,000 in total savings
- Age 65: ~$1,000,000–$1,200,000
What If You Are Behind?
Feeling behind is common — and the situation is rarely as dire as it feels. Key points:
- Super is automatic — it is still growing through employer contributions even when you are not actively managing it
- The compounding curve accelerates — the greatest growth in absolute dollar terms comes in the later years; someone with $150,000 at 50 can still accumulate significantly by 65
- Catch-up super contributions — Australians with super balances under $500,000 can make catch-up concessional contributions if they missed previous year caps
- Start now — the best time to start was yesterday; the second best is today
Practical Steps If You Feel Behind
| Action | Impact |
|---|---|
| Check your super fund’s investment option | Switching from default to a higher-growth option may increase returns significantly over 10–20 years |
| Make extra concessional super contributions | Reduces taxable income and boosts retirement savings at 15% tax rate |
| Start or increase non-super investing | ETFs provide growth outside super |
| Review your super fund’s fees | High-fee funds can cost tens of thousands over a career |
| Increase savings rate | Saving an extra 5% of income compounds significantly over time |
Related Articles
- How Much Do You Need to Retire in Australia?
- Is It Too Late to Start Investing at 40?
- Is It Too Late to Start Investing at 50?
- Am I On Track for Retirement?
- Getting Started hub
- Investing hub
Frequently Asked Questions
What is the average super balance for a 40-year-old in Australia? Based on ATO and APRA data, the median super balance for Australians aged 40–44 is approximately $80,000–$100,000 (FY2023–24 figures). The mean is higher due to wealthy outliers. The gender gap is significant — women typically have lower super balances than men at the same age due to career breaks and historically lower wages.
Is $100,000 in super at 40 good? It is close to the median for that age group, suggesting you are roughly in the middle of the population. Whether it is “good” depends on your retirement income goals. For a comfortable ASFA retirement on your own at 67, you would need approximately $595,000 — starting from $100,000 at 40 with 27 years of contributions and investment growth makes that achievable for many Australians.
How do I check how my super balance compares? Log into your super fund’s online portal, your myGov account linked to ATO, or the ATO’s online services. The ATO shows all your super accounts in one place. Comparing to the median for your age cohort gives a sense of relative position.
This article provides general financial information only. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.