{"id":109702,"date":"2026-03-13T11:30:00","date_gmt":"2026-03-13T00:30:00","guid":{"rendered":"https:\/\/en.econostrum.info\/au\/?p=109702"},"modified":"2026-03-12T23:46:46","modified_gmt":"2026-03-12T12:46:46","slug":"how-much-to-retire-comfortably","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/au\/how-much-to-retire-comfortably\/","title":{"rendered":"Want a Comfortable Retirement? Here\u2019s How Much Super You Should Have at Each Age"},"content":{"rendered":"

When it comes to retirement, the superannuation balance you need to retire comfortably has never been higher. Recent figures from the Association of Superannuation Funds of Australia (ASFA) reveal that the amount Australians need in their super to live comfortably has seen a sharp rise. For many, this presents a significant gap between what they have now and what they\u2019ll need when they retire. In fact, some might find themselves a little behind. So, just how much should you have in your super at each age?<\/p>\n

The Growing Retirement Shortfall<\/h2>\n

ASFA<\/a> now estimates that a single person will need a lump sum of $630,000 by age 67 to retire comfortably, while a couple will need $730,000. That\u2019s a pretty hefty sum, especially when you consider how much people are actually saving. For example, a 40-year-old earning around $90,000 annually needs $117,700 in their super by now to stay on track. Fast forward to age 50, and they\u2019d need to have $262,200 saved up.<\/p>\n

But here\u2019s the kicker: current super balances for many Australians fall significantly short. For example, those in the 40-44 age group have a median balance of $93,351, which is way below the target. And for those in the 50-54 age group, the median balance is just $147,857, falling short of what\u2019s needed by $115,000. The gap widens as Australians get closer to retirement. For those in the 60-64 age group, with a median balance of $189,618, the gap to the required $456,100 is still huge.<\/p>\n

Taking Action: How to Close the Gap<\/h2>\n

So, what can you do if your super balance is lagging behind? The good news is it\u2019s not too late to make adjustments. James Koval, chief policy officer at ASFA, says small, extra contributions can go a long way. \u201cThe compounding effect of super\u2019s low-tax environment means that adding a little now could make a significant difference later,\u201d he explains. For younger Australians, getting on top of super early and making consistent contributions is key. For those closer to retirement, the focus should be on boosting contributions and possibly seeking advice from financial experts.<\/p>\n

If you’re in your 40s or 50s, consider calling your super fund for guidance on how to optimize your savings. In some cases, even small adjustments can have a big impact over time.<\/p>\n

Why Retirement Is More Personal Than Ever<\/h2>\n

While these benchmarks provide a good guideline, they\u2019re not set in stone. Retirement is a personal thing. The Age Pension, savings outside of super, and even homeownership all contribute to an individual\u2019s retirement plan. It\u2019s important to understand that superannuation is just one part of the bigger picture.<\/p>\n

Experts stress that retirement<\/a>\u00a0doesn\u2019t look the same for everyone, and you don\u2019t need to panic if your super balance isn\u2019t quite up to scratch just yet. The key is getting started, staying consistent, and seeking professional advice if needed. Remember, it\u2019s never too late to begin building a comfortable retirement!<\/p>\n\n\n

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While young Australians are set to retire well thanks to 12 per cent super contributions, their parents face a retirement funding crunch | SEE THE NUMBERS https:\/\/t.co\/1OGqGDFJWc<\/a><\/p>— The Australian (@australian) March 11, 2026<\/a><\/blockquote>