Most “super by age” tables show averages or medians. They’re interesting, but they answer the wrong question. If the average 40-year-old is behind, matching the average just means being behind too. This guide does it the other way round: start from what a comfortable retirement costs, then work out what you need now.
The target
The Association of Superannuation Funds of Australia (ASFA) publishes a Retirement Standard. Its mid-2026 update puts a comfortable retirement for a single homeowner aged 65–84 at about $56,000 a year, and estimates a single person needs roughly $630,000 in super at 67 to fund it, alongside a part Age Pension. A couple needs about $730,000 combined. Renters need considerably more, and a modest lifestyle needs far less because the Age Pension does most of the work.
We use $630,000 in today’s dollars as the target below. If you rent, plan to retire early or want more than “comfortable”, aim higher.
Balance you need now, by age and salary
| Your age | $60,000 salary | $90,000 salary | $120,000 salary |
|---|---|---|---|
| 25 | $26,000 | $0 | $0 |
| 30 | $66,000 | $0 | $0 |
| 35 | $112,000 | $47,000 | $0 |
| 40 | $165,000 | $107,000 | $48,000 |
| 45 | $226,000 | $176,000 | $125,000 |
| 50 | $297,000 | $256,000 | $214,000 |
| 55 | $379,000 | $348,000 | $317,000 |
Two things stand out. First, higher earners need less saved today, because their 12% employer contributions are bigger. Second, for younger people on good salaries the requirement can be close to zero: employer contributions alone, compounding for 40 years, get there. The table gets steep after 45, when there are fewer years for contributions and growth to do the work.
Where typical balances end up
Here is where some common starting points lead for someone earning $90,000:
| Age now | Balance now | Projected at 67 | In today’s dollars |
|---|---|---|---|
| 25 | $15,000 | $2,525,000 | $859,000 |
| 35 | $70,000 | $1,570,000 | $691,000 |
| 45 | $150,000 | $1,020,000 | $580,000 |
| 55 | $260,000 | $687,000 | $505,000 |
If you’re behind
- Salary sacrifice. Concessional contributions are taxed at 15% instead of your marginal rate, and the annual cap is $32,500 including your employer’s 12%. If your balance is under $500,000 you can also use unused cap amounts from the previous five years.
- Check your fees. A fund charging 1.5% a year instead of 0.7% can cost a six-figure sum over a career. See how fees affect your super.
- Find lost super in myGov and consolidate duplicate accounts so you don’t pay two sets of fees and insurance.
- Review your investment option. Younger members in a very conservative option give up a lot of growth.
- Work a little longer. Each extra year adds contributions, adds growth and shortens the time your money has to last.
If you’re ahead
Being ahead gives you choices: retiring earlier, reducing hours in your late 50s or shifting extra savings outside super where they stay accessible. Super can’t generally be touched until 60, so for goals before then, money outside super matters.
Assumptions
6.5% a year returns, 0.8% a year in fees, salary growing 3% a year, 2.6% inflation, 12% super guarantee, 15% contributions tax. These are our calculator’s defaults; change any of them in the super calculator.
Frequently asked questions
Is $1 million enough to retire in Australia?
For a single homeowner it’s well above ASFA’s comfortable benchmark. It would generate about $50,000–$60,000 a year for 25+ years on its own, before any Age Pension.
Does the Age Pension count?
Yes. ASFA’s lump-sum targets assume you’ll also get a part Age Pension. That’s why the super needed for a modest lifestyle is so small.
What if I have a partner?
Look at your combined balance against the couple target of about $730,000, rather than each person separately.
