64, How Much Super Should I Have
64 for Australian property investors. Part of the How Much Super Should I Have hub on Shelby Limited, AI strategy, calculators and expert matching.
At 64, the average Australian super balance is about $380,000 and the median is $245,000. To stay on track for ASFA's comfortable single retirement of $595,000 by 67, aim for roughly $468K. From an average balance, about $2,790 a month extra closes the gap.
Will an average balance at 64 be enough by 67?
Starting from the average $380,000 at 64, with $10,800 a year of Super Guarantee on a $90,000 salary and 6.5% net returns, the projection is $488,000 at 67. That is $107,000 short of ASFA's comfortable single target, which an extra $2,790 a month over the next 3 years would close.
Super milestones from age 64
- You passed preservation age 4 years ago, so retirement or a transition-to-retirement income stream unlocks your balance.
- 3 years until Age Pension age (67), the age ASFA's comfortable benchmark is measured against.
- You are eligible for the downsizer contribution of up to $300,000 per person if you sell a home you have owned for 10 years or more.
- At 65 (in 1 year) super becomes accessible regardless of work status.
- Voluntary contributions generally stop at 75, leaving 11 years of contribution runway.
What $1,000 contributed at 64 is worth later
With 3 years to age 67, every $1,000 added to super at 64 grows to roughly $1,208 at 6.5% net returns. Concessional contributions are taxed at 15% going in, versus your marginal rate outside super, which is why salary sacrifice at 64 is mainly a tax play now.
Frequently asked questions
What is the median super balance at 64 in Australia?
The median super balance at 64 is about $245,000, lower than the $380,000 average because a few large balances lift the mean. Median is the fairer comparison for most people.
How many years until I can access my super if I am 64?
You passed preservation age 4 years ago, so retirement or a transition-to-retirement income stream unlocks your balance.
How much extra should I put into super at 64?
From an average balance at 64, about $2,790 a month on top of the Super Guarantee would reach $595,000 by 67 at 6.5% net returns. Stay within the $30,000 concessional cap.