How much super should I have at my age?

Super is a long-term investment which grows over time. This is a Guide to Building Your Super and the earlier you learn about what you are entitled to, what your employer needs to pay, the better off you will be when you retire.

For most people, super begins when you start work and your employer starts paying a percentage of your wages or salary into a super fund account for you.

Here is a general guide:
25 years old    $25,000
30 years old    $69,000
35 years old    $120,000
40 years old    $185,000
45 years old    $250,000
50 years old   $310,000
55 years old   $415,000
60 years old   $550,000
65 years old   $800,000

Super nest egg

If your balance is lower

Don’t feel bad if your balance is lower than you would like. There’s usually something you can do to improve your future finances, such as adding extra money to your super, or receiving the government’s co-contribution. You may also be able to supplement your super with the Age Pension (if eligible). About 3 in 5 Australians over age 65 received the Age Pension to 2021.

How to grow your super

There are lots of ways you can grow your super now – it’s never too early or too late – here are our top 6 ways.

1. Salary sacrifice

When you set up a salary sacrifice arrangement with your employer, you pay or ‘sacrifice’ some of your before tax salary into your super account. It can be a very simple way to boost your super, as well as reduce your taxable income, since the money goes into your super before it gets a chance to be taxed at your marginal rate.

2. Voluntary after tax contributions

You can make personal contributions (or after-tax contributions) on a regular or one-off basis, depending on what suits you. Generally you can make contributions via BPAY, direct debit, or payroll deductions through your employer. This can be a good way to inject more money into your super if you come into extra cash, potentially from a bonus or your tax return.

HINT: Be mindful that there are some caps which limit the amount you can contribute. Please find out about contribution caps for your situation.

3. Tax deductible contributions

Typically you would need to notify your fund that you intend to claim the deduction. Your fund then deducts tax from your contribution, and the contribution amount now no longer forms a part of your taxable income. You can make a tax-deductible contribution to your super, and then claim the tax deduction. This is a great alternative if you’re not able to salary sacrifice, or would just rather do it yourself. Tax savings could be available to you, as these contributions are normally taxed at just 15%.

HINT: Additional tax may apply if you’re a high income earner or you exceed the concessional contributions cap.

4. Consolidating your super

If you’ve had more than one job, there’s a good chance you could have multiple super accounts. It’s worth looking into consolidating your super as paying fees to multiple funds could set you back thousands of dollars over your working life.

Other benefits of consolidating include:
a) Keep track of contributions and contribution caps more easily
b) Take control of and grow your super by having your contributions go into ONE fund
c) Less paperwork and fewer numbers and passwords to remember
d) Before consolidating your super, consider the potential loss of insurance and other benefits that you may have in your other funds.
e) Also consider where your future employer contributions will be paid.
f) Choose just one investment strategy that suits your retirement goals and risk profile

5. Spouse contributions

You can boost the super balance of your spouse. Your partner may have taken time off, whether it’s to raise children, study or something else, which may have caused their super to fall behind. While it’s not directly boosting your own super, you can make a spouse contribution to their super account. If your partner is a low income earner, you may also be eligible for a tax offset.

6. Super health check

Lastly, to make sure your super fund is working for you, it’s a good idea to do a super health check at least once a year. It’s important to ask these questions:

Questions to ask yourself – and your advisor
Am I in the right investment option for my life stage?
What insurance cover do I have in my super?
How is my fund performing?
Do they have lower fees?

Once you and your advisor have answered these questions, you can both decide whether you are with the right fund and your balance is heading in the right direction, with higher investment returns and lower fees, or whether it’s time to change. If it is right, and you are in the right position, adding a little extra is always an added benefit, keeping in mind their is a yearly limit for super contributions.


1) What is a good monthly retirement income?

An good retirement income is about 80 percent of your pre-tax income prior to leaving the workforce. This is because when you’re no longer working, you won’t be paying income tax or other job-related expenses.

2) How much do I need to retire on $80000 a year?

We will assume you are single, retire at age 65 and want funds to last until age 90.
You need approximately $1,550,000 by retirement at 65 to live on $80,000 (indexed up each year for inflation) according to the Moneysmart Retirement Calculator at this present time.

3) Can I retire at 60 with 500k?

The short answer is yes — $500,000 is sufficient for some retirees. However, the question is, is this feasible? This balance is a similar income source like Social Security, relatively low spending.

4) Can a couple retire on 1 million dollars?
Yes, you could retire at 55 with one million dollars. You will receive a guaranteed annual income of $42,000 if that is enough for you for the rest of your life.

5) Is investing your Super a good idea?

In short yes.

But if you have high homeloan and other debt that is not tax deductable, there is a good reason to lower that debt first and load up your super later.

Contributions to your super fund are usually taxed at the rate of 15%, going up to 30% if income and concessional contributions exceed $250,000 for a financial year.


The most noteworthy benefit of investing in superannuation is its tax-effective environment.

You can also work with us to get more from your super and investments. Look at this Vanguard chart that shows you the long-term behaviour of investment markets.

So you can feel confident you’re on track to live the lifestyle you want in retirement, the right advice for your circumstances is always to your advantage.

TIP: Do you know the 4% guide of retirement?

The 4% guide is a rule of thumb that suggests retirees can safely withdraw an amount equal to 4 percent of their savings during the year they retire, and then adjust for inflation each subsequent year for 30 years.

If a long-term wealth strategy in building your super and protecting your wealth is important to you (or to book a more holistic review of your wealth and goals) call us on 08 7111 0022 or email 

REMEMBER, Action is power!

Until next time,
Make the rest of your life the best of your life.







Disclaimer: This article is factual information only. It is not intended to imply any recommendation about any financial product(s) or to constitute tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future.

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